Amundi Cuts Stock Position in Stifel Financial Corporation $SF

Amundi reduced its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 68.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,885 shares of the financial services provider's stock after selling 337,532 shares during the period. Amundi owned about 0.10% of Stifel Financial worth $10,737,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Stifel Financial in the second quarter valued at approximately $1,031,197,000. California State Teachers Retirement System lifted its position in shares of Stifel Financial by 6,765.3% during the 2nd quarter. California State Teachers Retirement System now owns 12,188,540 shares of the financial services provider's stock worth $850,394,000 after purchasing an additional 12,011,002 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Stifel Financial during the second quarter worth $123,551,000. AQR Capital Management LLC grew its stake in shares of Stifel Financial by 94.8% during the fourth quarter. AQR Capital Management LLC now owns 2,893,850 shares of the financial services provider's stock worth $362,368,000 after purchasing an additional 1,408,347 shares in the last quarter. Finally, Norges Bank purchased a new position in Stifel Financial in the fourth quarter valued at $172,446,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stifel Financial news, Director Maryam Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total value of $372,240.00. Following the transaction, the director directly owned 5,729 shares in the company, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.36% of the company's stock.

Stifel Financial Stock Up 0.1%

Shares of NYSE:SF opened at $79.81 on Friday. The stock has a market cap of $12.05 billion, a P/E ratio of 14.29 and a beta of 0.98. The firm has a fifty day moving average price of $80.68 and a 200 day moving average price of $76.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.83. Stifel Financial Corporation has a 1-year low of $67.81 and a 1-year high of $89.83.

Stifel Financial (NYSE:SF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business posted $1.71 earnings per share. Stifel Financial's quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Stifel Financial Corporation will post 6.36 EPS for the current year.

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.36 annualized dividend and a yield of 1.7%. Stifel Financial's dividend payout ratio is currently 24.33%.

Analyst Ratings Changes

A number of analysts have issued reports on SF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stifel Financial in a report on Wednesday, August 26th. UBS Group set a $90.00 price objective on Stifel Financial in a report on Thursday, July 23rd. Wall Street Zen cut Stifel Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. JPMorgan Chase & Co. upped their price target on Stifel Financial from $80.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Stifel Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Stifel Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.90.

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services company headquartered in St. Louis, Missouri. Through its principal broker-dealer, Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, institutional brokerage, securities research, sales and trading, and public finance services to individuals, corporations, municipalities and institutional investors.

Its wealth management business offers investment advisory, brokerage, banking and financial planning services through financial advisors and private client groups.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.