Charles Schwab Investment Management Inc. Decreases Holdings in Stifel Financial Corporation (NYSE:SF)

Key Points

• Charles Schwab Investment Management Inc. decreased its stake in Stifel Financial Corporation by 1.9%, holding approximately 1.17% of the company, valued at $114.1 million after selling 23,698 shares in the first quarter.
• Multiple analysts have raised their price targets for Stifel Financial, with JMP Securities setting a new target at $130.00 and Citigroup increasing their target from $115.00 to $135.00, indicating a strong positive outlook for the stock.
• Stifel Financial has announced a quarterly dividend of $0.46, which translates to an annualized dividend of $1.84 and a yield of 1.7%, to be paid on September 16th.

Charles Schwab Investment Management Inc. lessened its stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,210,628 shares of the financial services provider's stock after selling 23,698 shares during the period. Charles Schwab Investment Management Inc. owned about 1.17% of Stifel Financial worth $114,114,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SF. Hancock Whitney Corp boosted its position in Stifel Financial by 1.3% during the fourth quarter. Hancock Whitney Corp now owns 7,541 shares of the financial services provider's stock worth $800,000 after purchasing an additional 99 shares during the period. Bessemer Group Inc. boosted its position in shares of Stifel Financial by 52.1% in the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 110 shares during the period. Journey Strategic Wealth LLC boosted its position in shares of Stifel Financial by 4.2% in the first quarter. Journey Strategic Wealth LLC now owns 2,907 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 117 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Stifel Financial by 3.0% in the first quarter. Stratos Wealth Partners LTD. now owns 4,328 shares of the financial services provider's stock valued at $408,000 after acquiring an additional 127 shares during the period. Finally, MML Investors Services LLC boosted its position in shares of Stifel Financial by 0.5% in the fourth quarter. MML Investors Services LLC now owns 28,657 shares of the financial services provider's stock valued at $3,040,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 82.01% of the company's stock.

Analysts Set New Price Targets

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

Stifel Financial Trading Down 0.3%

Shares of Stifel Financial stock opened at $111.30 on Tuesday. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64. The firm has a market cap of $11.37 billion, a PE ratio of 21.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The company has a 50 day simple moving average of $105.24 and a two-hundred day simple moving average of $99.68.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 EPS. Analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 2nd. Stifel Financial's payout ratio is presently 35.66%.

Insider Buying and Selling at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $96.69, for a total value of $966,900.00. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.57% of the company's stock.

Stifel Financial 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.

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