Envestnet Asset Management Inc. Trims Stake in Stifel Financial Corporation (NYSE:SF)

Envestnet Asset Management Inc. reduced its stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,980 shares of the financial services provider's stock after selling 12,305 shares during the quarter. Envestnet Asset Management Inc. owned 0.48% of Stifel Financial worth $47,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp grew its stake in shares of Stifel Financial by 10.8% in the fourth quarter. M&T Bank Corp now owns 2,931 shares of the financial services provider's stock worth $311,000 after purchasing an additional 286 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Stifel Financial in the fourth quarter worth about $162,000. Raymond James Financial Inc. bought a new stake in shares of Stifel Financial in the fourth quarter worth about $11,936,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Stifel Financial by 7.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,115 shares of the financial services provider's stock worth $1,922,000 after purchasing an additional 1,274 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Stifel Financial by 10.6% in the fourth quarter. HighTower Advisors LLC now owns 8,777 shares of the financial services provider's stock worth $931,000 after purchasing an additional 843 shares during the last quarter. 82.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SF. TD Cowen cut their target price on Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen raised Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group cut their price objective on Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their price objective on Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wolfe Research raised Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price objective on the stock in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $109.63.

Stifel Financial Stock Down 1.2%

NYSE SF traded down $1.27 during mid-day trading on Friday, reaching $108.33. The stock had a trading volume of 747,529 shares, compared to its average volume of 694,090. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64. The stock has a market cap of $11.13 billion, a PE ratio of 20.71 and a beta of 1.09. The company has a fifty day moving average price of $98.38 and a 200 day moving average price of $99.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.77.

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 analysts' consensus estimates of $1.64 by ($1.15). The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.32 billion. Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. Stifel Financial's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.49 earnings per share. On average, research analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.46 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.70%. Stifel Financial's dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.28% of the company's stock.

Stifel Financial Company 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.