EFG Asset Management North America Corp. Sells 8,509 Shares of Stifel Financial Corporation $SF

Key Points

• EFG Asset Management North America Corp. reduced its holdings in Stifel Financial Corporation by 23.3%, selling 8,509 shares in the first quarter, leaving them with 27,970 shares worth $2.63 million.
• The company reported a quarterly earnings per share (EPS) of $1.71, exceeding analysts' estimates and marking a year-over-year revenue increase of 5.4%.
• Stifel Financial has declared a quarterly dividend of $0.46 per share, with an annualized yield of 1.6%, expected to be paid on September 16th.

EFG Asset Management North America Corp. reduced its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,970 shares of the financial services provider's stock after selling 8,509 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Stifel Financial were worth $2,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Stifel Financial during the 1st quarter worth $26,000. Alpine Bank Wealth Management bought a new stake in shares of Stifel Financial during the 1st quarter worth $27,000. Allworth Financial LP lifted its position in shares of Stifel Financial by 67.7% during the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock worth $29,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Stifel Financial by 123.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after buying an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Stifel Financial by 53.0% during the 1st quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock worth $46,000 after buying an additional 170 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the firm'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 transaction, the director owned 45,833 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 7 shares of company stock valued at $781 in the last 90 days. 4.57% of the stock is owned by company insiders.

Stifel Financial Stock Down 0.9%

Shares of Stifel Financial stock opened at $113.32 on Thursday. The stock's 50-day moving average is $111.17 and its 200 day moving average is $100.06. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 21.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64.

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

Stifel Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.46 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.84 annualized dividend and a yield of 1.6%. Stifel Financial's dividend payout ratio is presently 35.66%.

Analyst Upgrades and Downgrades

SF has been the subject of several recent analyst reports. Citigroup upgraded Stifel Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Stifel Nicolaus set a $135.00 price objective on Stifel Financial in a research report on Thursday, July 31st. JMP Securities upped their target price on Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Wall Street Zen raised Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Wells Fargo & Company upped their target price on Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.78.

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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