LPL Financial LLC Reduces Stock Position in Jefferies Financial Group Inc. (NYSE:JEF)

Key Points

• LPL Financial LLC reduced its stake in Jefferies Financial Group by 7.6%, selling 28,649 shares to hold a total of 346,882 shares valued at $18,582,000.
• Analysts have mixed ratings on Jefferies Financial Group, with one sell rating, two holds, and two buys, leading to a consensus rating of "Hold" and a target price of $66.00.
• Jefferies Financial Group recently announced a quarterly dividend of $0.40 per share, with an annualized yield of 2.8%, scheduled for distribution on August 29th.

LPL Financial LLC decreased its position in Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,882 shares of the financial services provider's stock after selling 28,649 shares during the quarter. LPL Financial LLC owned 0.17% of Jefferies Financial Group worth $18,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC grew its holdings in shares of Jefferies Financial Group by 9.8% during the 1st quarter. HB Wealth Management LLC now owns 5,918 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 527 shares during the last quarter. Carnegie Investment Counsel boosted its position in Jefferies Financial Group by 46.8% during the first quarter. Carnegie Investment Counsel now owns 9,459 shares of the financial services provider's stock valued at $507,000 after buying an additional 3,014 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Jefferies Financial Group by 3.8% during the first quarter. Pinnacle Associates Ltd. now owns 8,733 shares of the financial services provider's stock valued at $468,000 after buying an additional 317 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Jefferies Financial Group during the 1st quarter valued at about $1,621,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Jefferies Financial Group by 369.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 64,054 shares of the financial services provider's stock valued at $3,431,000 after acquiring an additional 50,409 shares during the period. Hedge funds and other institutional investors own 60.88% of the company's stock.

Jefferies Financial Group Trading Up 1.5%

Jefferies Financial Group stock traded up $0.88 during mid-day trading on Friday, reaching $58.47. 1,166,392 shares of the company traded hands, compared to its average volume of 1,817,392. The firm's 50 day moving average price is $54.87 and its 200 day moving average price is $56.46. Jefferies Financial Group Inc. has a 52-week low of $39.28 and a 52-week high of $82.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 22.06 and a beta of 1.48.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Jefferies Financial Group had a net margin of 7.70% and a return on equity of 6.59%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the business posted $0.64 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. On average, analysts anticipate that Jefferies Financial Group Inc. will post 4.41 earnings per share for the current fiscal year.

Jefferies Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 18th. Jefferies Financial Group's dividend payout ratio is presently 60.38%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Jefferies Financial Group from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of Jefferies Financial Group from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. Finally, Wall Street Zen cut Jefferies Financial Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Jefferies Financial Group currently has an average rating of "Hold" and an average target price of $66.00.

Jefferies Financial Group Profile

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.