Allspring Global Investments Holdings LLC Has $8 Million Stock Position in Stifel Financial Corporation (NYSE:SF)

Allspring Global Investments Holdings LLC grew its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 84,400 shares of the financial services provider's stock after acquiring an additional 8,405 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Stifel Financial worth $8,001,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Stifel Financial during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in shares of Stifel Financial during the first quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Stifel Financial by 123.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after buying an additional 183 shares during the period. Bessemer Group Inc. increased its position in shares of Stifel Financial by 52.1% during the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after buying an additional 110 shares during the period. Finally, Quarry LP acquired a new stake in shares of Stifel Financial during the fourth quarter worth $49,000. Institutional investors own 82.01% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SF. Citigroup decreased their price objective on shares of Stifel Financial from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen cut shares of Stifel Financial from a "hold" rating to a "sell" rating in a research report on Saturday. JMP Securities decreased their price objective on shares of Stifel Financial from $135.00 to $120.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Stifel Financial from $106.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wolfe Research raised shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price target for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.50.

Insider Activity

In other news, Director Michael J. Zimmerman sold 10,000 shares of Stifel Financial stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction of $966,900.00. Following the completion of the transaction, the director directly owned 45,833 shares in the company, valued at $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Stifel Financial Stock Up 1.7%

SF traded up $1.85 during midday trading on Friday, hitting $109.20. The company had a trading volume of 466,965 shares, compared to its average volume of 685,576. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 20.88 and a beta of 1.09. The stock's 50 day moving average price is $96.22 and its 200 day moving average price is $99.45.

Stifel Financial (NYSE:SF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($1.15). Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $1.49 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, June 2nd. Stifel Financial's dividend payout ratio is currently 35.18%.

About Stifel Financial

Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other.