Cerity Partners LLC Sells 2,916 Shares of Stifel Financial Corporation (NYSE:SF)

Cerity Partners LLC decreased its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,201 shares of the financial services provider's stock after selling 2,916 shares during the period. Cerity Partners LLC's holdings in Stifel Financial were worth $3,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Stifel Financial by 8.5% during the fourth quarter. FMR LLC now owns 8,628,832 shares of the financial services provider's stock worth $915,346,000 after purchasing an additional 672,420 shares during the period. Wellington Management Group LLP raised its position in Stifel Financial by 32.2% during the fourth quarter. Wellington Management Group LLP now owns 2,588,964 shares of the financial services provider's stock valued at $274,637,000 after acquiring an additional 630,255 shares in the last quarter. Norges Bank bought a new position in Stifel Financial during the fourth quarter valued at approximately $137,448,000. Invesco Ltd. raised its position in Stifel Financial by 18.2% during the fourth quarter. Invesco Ltd. now owns 1,207,465 shares of the financial services provider's stock valued at $128,088,000 after acquiring an additional 186,352 shares in the last quarter. Finally, Northern Trust Corp raised its position in Stifel Financial by 14.8% during the fourth quarter. Northern Trust Corp now owns 1,128,978 shares of the financial services provider's stock valued at $119,762,000 after acquiring an additional 145,902 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

Insider Activity

In related news, Director Michael J. Zimmerman sold 10,000 shares of the business's stock in a transaction that occurred 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. The trade was a 17.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Stifel Financial from $94.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. dropped their price target on shares of Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group dropped their price target on shares of Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Wolfe Research raised shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $110.88.

Stifel Financial Price Performance

Shares of Stifel Financial stock traded up $0.31 during trading on Friday, reaching $109.92. The company's stock had a trading volume of 603,546 shares, compared to its average volume of 689,216. The stock has a 50-day moving average price of $100.29 and a two-hundred day moving average price of $99.66. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64. The stock has a market capitalization of $11.29 billion, a P/E ratio of 21.02 and a beta of 1.09.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.32 billion. Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. As a group, sell-side analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.84 annualized dividend and a dividend yield of 1.67%. Stifel Financial's dividend payout ratio is presently 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.