AlphaQuest LLC Purchases 21,713 Shares of Stifel Financial Corporation $SF

Key Points

• AlphaQuest LLC increased its holdings in Stifel Financial Corporation by 482.8% during Q1, now owning 26,210 shares valued at approximately $2.47 million.
• Research analysts have shown increased confidence in Stifel Financial with multiple upgrades, including Citigroup raising their price target from $115 to $135.
• Stifel Financial recently announced a quarterly dividend of $0.46, reflecting a 1.7% dividend yield and a payout ratio of 35.66%.

AlphaQuest LLC grew its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 482.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,210 shares of the financial services provider's stock after buying an additional 21,713 shares during the period. AlphaQuest LLC's holdings in Stifel Financial were worth $2,471,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Stifel Financial in the first quarter valued at approximately $361,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Stifel Financial during the 1st quarter worth approximately $1,648,000. GAMMA Investing LLC lifted its holdings in Stifel Financial by 401.0% during the 1st quarter. GAMMA Investing LLC now owns 4,509 shares of the financial services provider's stock worth $425,000 after purchasing an additional 3,609 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Stifel Financial by 3.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,328 shares of the financial services provider's stock worth $408,000 after purchasing an additional 127 shares during the last quarter. Finally, Whitener Capital Management Inc. acquired a new stake in Stifel Financial during the 1st quarter worth approximately $436,000. 82.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on SF shares. Citigroup raised Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $115.00 to $135.00 in a report on Thursday, July 31st. Stifel Nicolaus set a $135.00 price target on Stifel Financial in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen raised Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, JMP Securities raised their price objective on Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.78.

Stifel Financial Price Performance

Shares of SF stock traded up $1.13 during trading hours on Wednesday, reaching $117.13. The company's stock had a trading volume of 346,951 shares, compared to its average volume of 788,975. The firm's 50 day simple moving average is $109.23 and its 200-day simple moving average is $99.74. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 22.65 and a beta of 1.11. Stifel Financial Corporation has a fifty-two week low of $73.27 and a fifty-two week high of $120.64. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28.

Stifel Financial (NYSE:SF - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Sell-side analysts forecast that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Stifel Financial's dividend payout ratio is presently 35.66%.

Insider Activity at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $96.69, for a total value of $966,900.00. Following the completion of the transaction, the director directly owned 45,833 shares in the company, valued at approximately $4,431,592.77. This represents a 17.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders acquired 7 shares of company stock valued at $781. 4.57% of the stock is currently owned by corporate insiders.

Stifel Financial Company Profile

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.