Principal Financial Group Inc. Sells 37,805 Shares of Stifel Financial Corporation (NYSE:SF)

Principal Financial Group Inc. reduced its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 890,028 shares of the financial services provider's stock after selling 37,805 shares during the period. Principal Financial Group Inc. owned 0.86% of Stifel Financial worth $83,894,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SF. NBC Securities Inc. purchased a new stake in shares of Stifel Financial during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Stifel Financial during the 1st quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Stifel Financial by 123.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after acquiring an additional 183 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Stifel Financial by 52.1% during the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after acquiring an additional 110 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Stifel Financial during the 4th quarter worth approximately $49,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $96.69, for a total value of $966,900.00. Following the transaction, the director owned 45,833 shares of the company's stock, valued at $4,431,592.77. This represents a 17.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.57% of the stock is owned by company insiders.

Stifel Financial Trading Up 1.7%

Stifel Financial stock traded up $1.85 during mid-day trading on Friday, hitting $109.20. The company's stock had a trading volume of 466,965 shares, compared to its average volume of 685,866. The company has a 50 day moving average of $96.22 and a 200-day moving average of $99.41. The stock has a market cap of $11.22 billion, a PE ratio of 20.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.81. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($1.15). The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. On average, research analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, June 2nd. Stifel Financial's dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SF shares. Wall Street Zen downgraded Stifel Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company cut their target price on Stifel Financial from $106.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. JMP Securities cut their target price on Stifel Financial from $135.00 to $120.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Wolfe Research raised Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a research report on Thursday, April 24th. Finally, TD Cowen cut their target price on Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Stifel Financial has an average rating of "Hold" and a consensus price target of $105.50.

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.