Envestnet Portfolio Solutions Inc. Sells 8,211 Shares of Stifel Financial Corporation (NYSE:SF)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 47.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,002 shares of the financial services provider's stock after selling 8,211 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Stifel Financial were worth $849,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. purchased a new position in Stifel Financial during the first quarter valued at $26,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $31,000 after purchasing an additional 183 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Stifel Financial by 52.1% during the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 110 shares during the last quarter. Quarry LP purchased a new position in shares of Stifel Financial during the fourth quarter valued at about $49,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Stifel Financial by 26.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 528 shares of the financial services provider's stock worth $56,000 after purchasing an additional 111 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Stifel Financial Trading Up 0.9%

Stifel Financial stock traded up $0.89 during midday trading on Thursday, reaching $103.29. The stock had a trading volume of 1,027,947 shares, compared to its average volume of 812,156. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 19.75 and a beta of 1.07. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The company has a fifty day moving average of $93.25 and a 200 day moving average of $99.66.

Stifel Financial (NYSE:SF - Get Free Report) last issued its quarterly earnings results 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). Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company's quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.78%. The ex-dividend date was Monday, June 2nd. Stifel Financial's dividend payout ratio is presently 35.18%.

Insider Activity at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the transaction, the director now owns 45,833 shares of the company's stock, valued at approximately $4,431,592.77. This represents a 17.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SF has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wolfe Research upgraded shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price target on the stock in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Citigroup decreased their target price on shares of Stifel Financial from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, JMP Securities dropped their price target on Stifel Financial from $135.00 to $120.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $105.50.

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.