Stifel Financial Corporation (NYSE:SF) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management has reduced its holdings in Stifel Financial Corporation by 29.7%, owning 554,532 shares worth approximately $52.27 million as of its latest SEC filing.
• Stifel Financial reported a $1.71 EPS for the recent quarter, which surpassed analysts' expectations, and had a revenue of $1.28 billion, reflecting a 5.4% increase year-over-year.
• The company declared a quarterly dividend of $0.46 per share, yielding approximately 1.7% with a payout ratio of 35.66%.

LSV Asset Management cut its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 29.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 554,532 shares of the financial services provider's stock after selling 234,824 shares during the quarter. LSV Asset Management owned approximately 0.54% of Stifel Financial worth $52,270,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Stifel Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Stifel Financial during the first quarter valued at about $27,000. Bessemer Group Inc. lifted its position in shares of Stifel Financial by 52.1% during the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock valued at $34,000 after buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Stifel Financial by 123.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock valued at $31,000 after buying an additional 183 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Stifel Financial by 67.7% during the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock valued at $29,000 after buying an additional 136 shares during the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stifel Financial

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday. Wolfe Research raised shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a research report on Thursday, April 24th. Stifel Nicolaus set a $135.00 price objective on shares of Stifel Financial in a research report on Thursday, July 31st. Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and increased their price objective for the company from $115.00 to $135.00 in a research report on Thursday, July 31st. Finally, JMP Securities increased their price objective on shares of Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $115.78.

Stifel Financial Stock Performance

NYSE:SF traded down $1.10 during midday trading on Thursday, hitting $110.73. The company's stock had a trading volume of 38,156 shares, compared to its average volume of 801,991. Stifel Financial Corporation has a fifty-two week low of $73.27 and a fifty-two week high of $120.64. The firm's 50 day moving average is $104.22 and its 200-day moving average is $99.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.77. The firm has a market cap of $11.38 billion, a P/E ratio of 21.47 and a beta of 1.11.

Stifel Financial (NYSE:SF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned $1.60 EPS. Stifel Financial's quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.7%. Stifel Financial's payout ratio is 35.66%.

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.