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Assenagon Asset Management S.A. Purchases 75,700 Shares of Stifel Financial Corporation (NYSE:SF)

Stifel Financial logo with Finance background

Assenagon Asset Management S.A. grew its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 108.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,461 shares of the financial services provider's stock after buying an additional 75,700 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Stifel Financial worth $13,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Stifel Financial by 136.9% during the first quarter. SG Americas Securities LLC now owns 8,605 shares of the financial services provider's stock worth $811,000 after purchasing an additional 4,973 shares during the last quarter. GAMMA Investing LLC lifted its stake in Stifel Financial by 401.0% during the first 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. Harbor Capital Advisors Inc. lifted its stake in Stifel Financial by 26.1% during the first quarter. Harbor Capital Advisors Inc. now owns 51,957 shares of the financial services provider's stock worth $4,897,000 after purchasing an additional 10,757 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Stifel Financial during the first quarter worth $623,000. Finally, Farther Finance Advisors LLC increased its position in Stifel Financial by 251.1% in the first quarter. Farther Finance Advisors LLC now owns 1,169 shares of the financial services provider's stock worth $111,000 after buying an additional 836 shares during the period. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SF has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wolfe Research raised Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price target on the stock in a report on Thursday, April 24th. TD Cowen lowered their price target on Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Citigroup lowered their price target on Stifel Financial from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered their price target on Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $105.50.

Get Our Latest Stock Analysis on Stifel Financial

Insider Activity at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the sale, the director now owns 45,833 shares of the company's stock, valued at $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.57% of the stock is owned by company insiders.

Stifel Financial Price Performance

Stifel Financial stock traded down $1.41 during mid-day trading on Tuesday, hitting $96.04. 771,355 shares of the company were exchanged, compared to its average volume of 678,146. 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 business has a fifty day moving average of $91.42 and a 200 day moving average of $100.19. Stifel Financial Corporation has a 1-year low of $73.27 and a 1-year high of $120.64. The company has a market capitalization of $9.87 billion, a PE ratio of 18.36 and a beta of 1.07.

Stifel Financial (NYSE:SF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.64 by ($1.15). Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $1.49 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Monday, June 2nd. Stifel Financial's dividend payout ratio is 35.18%.

About Stifel Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Stifel Financial (NYSE:SF)

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