Hosking Partners LLP Sells 30,422 Shares of Jefferies Financial Group Inc. $JEF

Key Points

• Hosking Partners LLP reduced its Jefferies Financial Group position by 6%, selling 30,422 shares and retaining 473,389 shares worth approximately $21.6 million. Institutional investors and hedge funds collectively own 60.88% of JEF.
• Jefferies authorized a $250 million share repurchase program, allowing it to buy back up to 2% of outstanding shares, and declared a quarterly dividend of $0.40 per share, representing a 3.6% annualized yield.
• JEF shares opened at $44.95, below their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $56.86.

Hosking Partners LLP trimmed its position in Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,389 shares of the financial services provider's stock after selling 30,422 shares during the period. Hosking Partners LLP owned approximately 0.25% of Jefferies Financial Group worth $21,648,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Jefferies Financial Group during the 2nd quarter worth $834,947,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Jefferies Financial Group in the second quarter valued at about $127,242,000. Dimensional Fund Advisors LP boosted its holdings in shares of Jefferies Financial Group by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,666,097 shares of the financial services provider's stock valued at $110,015,000 after acquiring an additional 58,585 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of Jefferies Financial Group in the second quarter valued at about $107,044,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Jefferies Financial Group during the second quarter worth about $79,537,000. 60.88% of the stock is owned by institutional investors and hedge funds.

Jefferies Financial Group Stock Performance

Shares of JEF opened at $44.95 on Thursday. The company has a 50-day simple moving average of $49.37 and a 200-day simple moving average of $51.67. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $8.50 billion, a PE ratio of 12.31 and a beta of 1.57. Jefferies Financial Group Inc. has a 52-week low of $35.53 and a 52-week high of $66.60.

Jefferies Financial Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2% of its shares through open market purchases. Share repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Jefferies Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. Jefferies Financial Group's payout ratio is currently 43.84%.

Analyst Ratings Changes

JEF has been the subject of several analyst reports. Capital One Financial set a $50.00 price target on shares of Jefferies Financial Group in a report on Tuesday, September 29th. The Goldman Sachs Group reduced their price objective on shares of Jefferies Financial Group from $67.00 to $57.00 and set a "buy" rating for the company in a research report on Tuesday, September 29th. Weiss Ratings lowered Jefferies Financial Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. Morgan Stanley lowered their price objective on Jefferies Financial Group from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 29th. Finally, BMO Capital Markets dropped their target price on Jefferies Financial Group from $57.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, September 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $56.86.

About Jefferies Financial Group

Jefferies Financial Group Inc NYSE: JEF is a diversified financial services company that operates primarily through its investment banking and capital markets subsidiary, Jefferies LLC. The company provides advisory services for mergers and acquisitions, restructuring and other corporate transactions, along with equity and debt underwriting, securities sales and trading, research, and prime brokerage services.

Jefferies also manages and invests capital through asset management and merchant banking activities.

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