BlackRock Inc. Buys New Stake in Stifel Financial Corporation $SF

BlackRock Inc. purchased a new position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,779,953 shares of the financial services provider's stock, valued at approximately $1,031,197,000. BlackRock Inc. owned about 9.63% of Stifel Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Stifel Financial by 13.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,451,787 shares of the financial services provider's stock valued at $391,674,000 after buying an additional 419,038 shares during the last quarter. AQR Capital Management LLC lifted its position in Stifel Financial by 94.8% in the fourth quarter. AQR Capital Management LLC now owns 2,893,850 shares of the financial services provider's stock valued at $362,368,000 after acquiring an additional 1,408,347 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Stifel Financial by 51.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,616,616 shares of the financial services provider's stock valued at $193,403,000 after acquiring an additional 890,810 shares in the last quarter. Boston Partners boosted its stake in Stifel Financial by 2.0% in the third quarter. Boston Partners now owns 2,371,880 shares of the financial services provider's stock valued at $269,128,000 after acquiring an additional 45,631 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Stifel Financial by 58.7% during the first quarter. Bank of America Corp DE now owns 1,875,501 shares of the financial services provider's stock worth $138,637,000 after purchasing an additional 693,437 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Maryam S. Brown sold 4,700 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total transaction of $372,240.00. Following the completion of the transaction, the director owned 5,729 shares of the company's stock, valued at approximately $453,736.80. This represents a 45.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.36% of the company's stock.

Stifel Financial Price Performance

Shares of NYSE SF opened at $80.95 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $78.20 and its 200 day moving average price is $76.47. Stifel Financial Corporation has a 52 week low of $67.81 and a 52 week high of $89.83. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 14.49 and a beta of 0.99.

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

Stifel Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. Stifel Financial's payout ratio is presently 24.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Stifel Financial in a report on Friday, May 29th. Wall Street Zen lowered Stifel Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. boosted their price objective on Stifel Financial from $80.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. UBS Group set a $90.00 price objective on Stifel Financial in a report on Thursday, July 23rd. Finally, Zacks Research upgraded Stifel Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.90.

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm's main business activities are organized into two core segments: Private Client Group and Institutional Group.

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