KLP Kapitalforvaltning AS Lowers Stake in Stifel Financial Corporation $SF

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Stifel Financial Corporation by 13.2%, now holding 21,450 shares valued at approximately $2.23 million.
• Stifel Financial reported a quarterly earnings per share of $1.71, exceeding the consensus estimate of $1.65, with a net margin of 11.90% and a revenue increase of 5.4% year-over-year.
• According to analysts, Stifel Financial has a current average rating of "Moderate Buy" with an average price target of $122.60.

KLP Kapitalforvaltning AS reduced its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,450 shares of the financial services provider's stock after selling 3,250 shares during the period. KLP Kapitalforvaltning AS's holdings in Stifel Financial were worth $2,226,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SF. Vanguard Group Inc. boosted its holdings in shares of Stifel Financial by 2.1% in the first quarter. Vanguard Group Inc. now owns 10,620,407 shares of the financial services provider's stock valued at $1,001,080,000 after acquiring an additional 217,415 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Stifel Financial by 314.1% in the first quarter. AQR Capital Management LLC now owns 1,383,836 shares of the financial services provider's stock valued at $126,925,000 after acquiring an additional 1,049,665 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Stifel Financial by 0.3% in the first quarter. Invesco Ltd. now owns 1,211,580 shares of the financial services provider's stock valued at $114,204,000 after acquiring an additional 4,115 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Stifel Financial by 0.6% in the first 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Stifel Financial by 529.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 398,633 shares of the financial services provider's stock valued at $37,576,000 after acquiring an additional 335,257 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Stifel Financial Stock Performance

NYSE:SF opened at $107.18 on Friday. The firm has a 50 day simple moving average of $113.38 and a 200-day simple moving average of $102.34. 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 firm has a market cap of $10.95 billion, a PE ratio of 20.77 and a beta of 1.13. Stifel Financial Corporation has a 1-year low of $73.27 and a 1-year high of $120.64.

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

Stifel Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. Stifel Financial's payout ratio is currently 35.66%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SF shares. JMP Securities lifted their target price on shares of Stifel Financial from $130.00 to $135.00 and gave the company a "market outperform" rating in a report on Thursday. Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Zacks Research downgraded shares of Stifel Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Stifel Nicolaus set a $131.00 price objective on shares of Stifel Financial in a report on Wednesday. Finally, Cowen raised shares of Stifel Financial from a "hold" rating to a "buy" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Stifel Financial presently has an average rating of "Moderate Buy" and an average price target of $122.60.

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.

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