NewEdge Wealth LLC Boosts Position in Jefferies Financial Group Inc. $JEF

Key Points

• NewEdge Wealth LLC increased its stake in Jefferies Financial Group by 10.1% in the first quarter, bringing its holdings to 1,017,831 shares valued at about $42 million.
• Jefferies reported mixed quarterly results, with EPS of $1.02 missing estimates and revenue of $2.21 billion slightly below expectations, though revenue still rose 35% year over year.
• The company authorized a $250 million share buyback and announced a quarterly dividend of $0.40 per share, equal to a 2.9% annualized yield.

NewEdge Wealth LLC raised its holdings in shares of Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,017,831 shares of the financial services provider's stock after acquiring an additional 93,216 shares during the period. NewEdge Wealth LLC owned approximately 0.50% of Jefferies Financial Group worth $42,006,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC increased its stake in shares of Jefferies Financial Group by 75.0% in the fourth quarter. Salomon & Ludwin LLC now owns 413 shares of the financial services provider's stock worth $27,000 after acquiring an additional 177 shares during the period. Smithfield Trust Co acquired a new position in Jefferies Financial Group during the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in Jefferies Financial Group during the fourth quarter valued at $28,000. Nvwm LLC purchased a new stake in Jefferies Financial Group in the fourth quarter valued at $31,000. Finally, Ramirez Asset Management Inc. purchased a new stake in Jefferies Financial Group in the fourth quarter valued at $31,000. 60.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JEF has been the subject of a number of recent research reports. Loop Capital set a $60.00 price objective on Jefferies Financial Group in a research note on Monday, June 8th. The Goldman Sachs Group restated a "buy" rating on shares of Jefferies Financial Group in a research note on Friday, June 5th. Oppenheimer dropped their target price on Jefferies Financial Group from $87.00 to $83.00 and set an "outperform" rating on the stock in a report on Thursday, June 25th. Zacks Research raised Jefferies Financial Group from a "strong sell" rating to a "hold" rating in a report on Thursday, April 9th. Finally, BMO Capital Markets lifted their price target on Jefferies Financial Group from $42.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Jefferies Financial Group presently has a consensus rating of "Hold" and an average price target of $62.62.

Jefferies Financial Group Trading Down 1.3%

Shares of Jefferies Financial Group stock opened at $55.98 on Thursday. The firm has a 50-day simple moving average of $54.94 and a two-hundred day simple moving average of $52.10. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.98 and a current ratio of 0.98. Jefferies Financial Group Inc. has a fifty-two week low of $35.53 and a fifty-two week high of $71.04. The company has a market cap of $10.84 billion, a P/E ratio of 15.64 and a beta of 1.54.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last posted its earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.14). Jefferies Financial Group had a net margin of 7.58% and a return on equity of 9.23%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.40 earnings per share. Jefferies Financial Group's revenue was up 35.0% on a year-over-year basis. As a group, equities analysts predict that Jefferies Financial Group Inc. will post 3.71 earnings per share for the current fiscal year.

Jefferies Financial Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Jefferies Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Jefferies Financial Group's dividend payout ratio (DPR) is presently 44.69%.

Jefferies Financial Group News Summary

Here are the key news stories impacting Jefferies Financial Group this week:

• Positive Sentiment: Jefferies is helping arrange InMobi’s nearly $1 billion IPO alongside JPMorgan, highlighting continued activity in capital markets and underwriting. InMobi appoints JPMorgan, Jefferies for nearly $1 billion IPO
• Positive Sentiment: Jefferies expanded its Brazil equity sales team by hiring a former Credit Suisse executive, a sign it is still investing in growth in international markets. Jefferies Adds Ex-Credit Suisse Executive on Brazil Equity Sales
• Neutral Sentiment: Jefferies launched $458 million of senior autocallable notes tied to the Russell 2000 and S&P 500, reflecting ongoing product issuance but not a major fundamental catalyst. Jefferies Launches $458 Million Senior Autocallable Notes Tied to Russell 2000 and S&P 500 Indices
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Jefferies Financial Group investors, which can weigh on sentiment because it raises the risk of legal overhang and potential costs. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Jefferies Financial Group Inc. - JEF
• Negative Sentiment: A fire at Jefferies’ New York headquarters led to an evacuation, an operational headline that is likely more distracting than financially material but still negative for near-term sentiment. Fire Triggers Evacuation of Jefferies NYC Headquarters

Jefferies Financial Group Profile

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.

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