Commerce Bank Invests $4.38 Million in Jefferies Financial Group Inc. $JEF

Key Points

• Commerce Bank initiated a $4.38 million position in Jefferies Financial Group during the second quarter by purchasing 87,675 shares. Institutional investors and hedge funds collectively own 60.88% of JEF.
• Jefferies reported quarterly revenue of $2.21 billion, up 35% year over year, but its $1.02 earnings per share missed analysts’ $1.16 consensus estimate. Analysts maintain a consensus “Hold” rating with a $62.62 price target.
• The company authorized a $250 million share-repurchase program and declared a quarterly dividend of $0.40 per share, equivalent to a 3.1% annualized yield.

Commerce Bank bought a new position in shares of Jefferies Financial Group Inc. (NYSE:JEF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 87,675 shares of the financial services provider's stock, valued at approximately $4,382,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smithfield Trust Co acquired a new stake in Jefferies Financial Group during the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in shares of Jefferies Financial Group in the fourth quarter worth about $28,000. Ramirez Asset Management Inc. purchased a new stake in shares of Jefferies Financial Group in the fourth quarter worth about $31,000. CX Institutional grew its holdings in Jefferies Financial Group by 77.6% during the second quarter. CX Institutional now owns 547 shares of the financial services provider's stock worth $27,000 after acquiring an additional 239 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Jefferies Financial Group by 50.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 672 shares of the financial services provider's stock worth $42,000 after acquiring an additional 224 shares during the period. 60.88% of the stock is currently owned by institutional investors and hedge funds.

Jefferies Financial Group Trading Up 0.0%

Shares of NYSE:JEF opened at $52.35 on Monday. The business's 50 day moving average price is $55.34 and its 200-day moving average price is $50.93. Jefferies Financial Group Inc. has a 1 year low of $35.53 and a 1 year high of $71.04. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 14.62 and a beta of 1.54. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.98 and a quick ratio of 0.98.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last issued its quarterly earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.14). The company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.30 billion. Jefferies Financial Group had a return on equity of 9.23% and a net margin of 7.58%.Jefferies Financial Group's revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities research analysts forecast that Jefferies Financial Group Inc. will post 3.71 earnings per share for the current fiscal year.

Jefferies Financial Group announced that its board has initiated a stock buyback program on Wednesday, June 24th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Jefferies Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. Jefferies Financial Group's payout ratio is currently 44.69%.

Wall Street Analyst Weigh In

JEF has been the subject of several recent research reports. UBS Group cut their target price on shares of Jefferies Financial Group from $67.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, June 25th. Weiss Ratings raised shares of Jefferies Financial Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Morgan Stanley upped their price objective on shares of Jefferies Financial Group from $44.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Loop Capital set a $60.00 target price on shares of Jefferies Financial Group in a research note on Monday, June 8th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Jefferies Financial Group in a research report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.62.

About Jefferies Financial Group

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.

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