Kaufman Rossin Wealth LLC Makes New Investment in Stifel Financial Corporation $SF

Key Points

• Kaufman Rossin Wealth LLC acquired 3,263 shares of Stifel Financial Corporation, valued at approximately $308,000, during the first quarter, signaling institutional interest in the company.
• Several hedge funds significantly increased their stakes in Stifel Financial, including GAMMA Investing LLC, which grew its position by 47,124.2% this quarter.
• Stifel Financial reported better-than-expected earnings, with $1.71 earnings per share for the last quarter, surpassing analysts' estimates of $1.65, indicating strong financial performance.

Kaufman Rossin Wealth LLC bought a new stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,263 shares of the financial services provider's stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Stifel Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 10,620,407 shares of the financial services provider's stock valued at $1,001,080,000 after purchasing an additional 217,415 shares in the last quarter. Invesco Ltd. raised its position in Stifel Financial by 0.3% during the 1st quarter. Invesco Ltd. now owns 1,211,580 shares of the financial services provider's stock valued at $114,204,000 after purchasing an additional 4,115 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Stifel Financial by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,136,207 shares of the financial services provider's stock valued at $107,099,000 after acquiring an additional 7,229 shares during the period. Bank of America Corp DE increased its holdings in shares of Stifel Financial by 2.9% in the 4th quarter. Bank of America Corp DE now owns 1,030,348 shares of the financial services provider's stock valued at $109,299,000 after acquiring an additional 29,344 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Stifel Financial by 47,124.2% in the 1st quarter. GAMMA Investing LLC now owns 425,018 shares of the financial services provider's stock valued at $40,062,000 after acquiring an additional 424,118 shares during the period. 82.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the business'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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 7 shares of company stock worth $781. 4.57% of the stock is currently owned by insiders.

Stifel Financial Price Performance

NYSE SF traded up $0.96 during trading hours on Tuesday, reaching $116.10. The company's stock had a trading volume of 105,776 shares, compared to its average volume of 789,554. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 22.50 and a beta of 1.11. Stifel Financial Corporation has a 1-year low of $73.27 and a 1-year high of $120.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The company's 50-day moving average is $108.83 and its two-hundred day moving average is $99.63.

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

Stifel Financial Announces Dividend

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

Wall Street Analyst Weigh In

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

About Stifel Financial

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.