Price T Rowe Associates Inc. MD Raises Position in Stifel Financial Corporation $SF

Key Points

• Price T Rowe Associates Inc. significantly increased its holdings in Stifel Financial Corporation by 529.0% during the first quarter, owning 398,633 shares worth $37.6 million.
• Stifel Financial reported a quarterly earnings per share of $1.71, surpassing analyst estimates by $0.06, along with a revenue of $1.28 billion.
• The company recently announced a quarterly dividend of $0.46 per share, which will be paid on September 16th, reflecting an annualized yield of 1.6%.

Price T Rowe Associates Inc. MD increased its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 529.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 398,633 shares of the financial services provider's stock after purchasing an additional 335,257 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.39% of Stifel Financial worth $37,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SF. NewEdge Advisors LLC grew its holdings in Stifel Financial by 6.8% in the 4th quarter. NewEdge Advisors LLC now owns 2,526 shares of the financial services provider's stock worth $268,000 after acquiring an additional 160 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Stifel Financial by 164.9% in the 4th quarter. Hsbc Holdings PLC now owns 32,300 shares of the financial services provider's stock worth $3,428,000 after acquiring an additional 20,105 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Stifel Financial by 12.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,460 shares of the financial services provider's stock worth $473,000 after acquiring an additional 498 shares during the last quarter. Quarry LP bought a new stake in Stifel Financial in the 4th quarter worth $49,000. Finally, Northern Trust Corp grew its holdings in Stifel Financial by 14.8% in the 4th quarter. Northern Trust Corp now owns 1,128,978 shares of the financial services provider's stock worth $119,762,000 after acquiring an additional 145,902 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company's stock.

Insider Buying and Selling at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of Stifel Financial stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction 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. The trade was a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 7 shares of company stock worth $781. Insiders own 3.28% of the company's stock.

Stifel Financial Trading Up 0.4%

Shares of SF opened at $116.51 on Thursday. The firm's 50-day moving average price is $109.61 and its 200-day moving average price is $99.86. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 22.58 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. 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 announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.06. The firm 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. Sell-side analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.6%. Stifel Financial's payout ratio is presently 35.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SF. Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and raised their price target for the stock from $115.00 to $135.00 in a report on Thursday, July 31st. JMP Securities raised their price target on shares of Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Stifel Nicolaus set a $135.00 price target on shares of Stifel Financial in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Stifel Financial has a consensus rating of "Moderate Buy" and a consensus target price of $115.78.

Stifel Financial Company 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.

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