Northern Trust Corp Has $107.10 Million Position in Stifel Financial Corporation $SF

Key Points

• Northern Trust Corp increased its stake in Stifel Financial by 0.6%, owning approximately 1.10% of the company, valued at $107 million as of the end of the first quarter.
• Stifel Financial reported quarterly earnings of $1.71 EPS, surpassing estimates, along with a revenue increase of 5.4% year-over-year.
• The company announced a quarterly dividend of $0.46 per share, with a scheduled payout on September 16, 2023, yielding 1.6% annually.

Northern Trust Corp grew its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,136,207 shares of the financial services provider's stock after buying an additional 7,229 shares during the quarter. Northern Trust Corp owned approximately 1.10% of Stifel Financial worth $107,099,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SF. Renaissance Technologies LLC lifted its position in shares of Stifel Financial by 44.9% in the fourth quarter. Renaissance Technologies LLC now owns 22,915 shares of the financial services provider's stock worth $2,431,000 after purchasing an additional 7,100 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Stifel Financial by 6.8% in the fourth quarter. NewEdge Advisors LLC now owns 2,526 shares of the financial services provider's stock worth $268,000 after purchasing an additional 160 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Stifel Financial by 65.2% in the fourth quarter. First Trust Advisors LP now owns 129,459 shares of the financial services provider's stock worth $13,733,000 after purchasing an additional 51,103 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Stifel Financial by 0.5% in the fourth quarter. MML Investors Services LLC now owns 28,657 shares of the financial services provider's stock worth $3,040,000 after purchasing an additional 136 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Stifel Financial by 398.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,942 shares of the financial services provider's stock worth $842,000 after purchasing an additional 6,350 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael J. Zimmerman sold 10,000 shares of the firm's 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 in the company, valued at approximately $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 7 shares of company stock valued at $781 in the last 90 days. Company insiders own 3.28% of the company's stock.

Stifel Financial Stock Performance

Shares of NYSE:SF traded up $0.33 during trading on Thursday, reaching $116.71. The stock had a trading volume of 305,784 shares, compared to its average volume of 789,095. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 22.62 and a beta of 1.11. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $109.61 and a two-hundred day simple moving average of $99.86.

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

Stifel Financial Dividend Announcement

The business 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 $0.46 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.84 annualized dividend and a dividend yield of 1.6%. Stifel Financial's dividend payout ratio (DPR) is presently 35.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in 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, August 3rd. 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 raised their price objective for the company from $115.00 to $135.00 in a research report on Thursday, July 31st. JMP Securities raised 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. Finally, Wells Fargo & Company raised their price objective on shares of Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.78.

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.