Russell Investments Group Ltd. Cuts Stake in Jefferies Financial Group Inc. $JEF

Key Points

• Russell Investments Group Ltd. has reduced its stake in Jefferies Financial Group Inc. by 29.0%, now holding about 244,589 shares valued at approximately $13,102,000.
• Despite this reduction, institutional investors collectively own 60.88% of Jefferies Financial Group's stock, with several firms increasing their stakes significantly in the same period.
• Jefferies Financial Group reported a net margin of 7.70% for the latest quarter, with earnings per share (EPS) of $0.40, which missed estimates and represented a decrease from the previous year’s EPS of $0.64.

Russell Investments Group Ltd. trimmed its stake in Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 29.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 244,589 shares of the financial services provider's stock after selling 99,785 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Jefferies Financial Group worth $13,102,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JCIC Asset Management Inc. grew its stake in shares of Jefferies Financial Group by 193.8% during the 1st quarter. JCIC Asset Management Inc. now owns 705 shares of the financial services provider's stock valued at $38,000 after buying an additional 465 shares during the period. GAMMA Investing LLC boosted its holdings in Jefferies Financial Group by 123.9% in the first quarter. GAMMA Investing LLC now owns 1,151 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 637 shares during the last quarter. IFP Advisors Inc boosted its holdings in Jefferies Financial Group by 87.9% in the first quarter. IFP Advisors Inc now owns 1,387 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 649 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Jefferies Financial Group by 105.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,525 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 783 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Jefferies Financial Group during the fourth quarter worth about $141,000. Institutional investors and hedge funds own 60.88% of the company's stock.

Jefferies Financial Group Price Performance

JEF stock opened at $60.32 on Monday. The firm has a market cap of $12.44 billion, a P/E ratio of 22.76 and a beta of 1.48. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.05 and a current ratio of 1.05. Jefferies Financial Group Inc. has a 1 year low of $39.28 and a 1 year high of $82.68. The stock has a 50-day simple moving average of $56.17 and a 200-day simple moving average of $55.52.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Jefferies Financial Group had a net margin of 7.70% and a return on equity of 6.59%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $0.64 EPS. The firm's revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Jefferies Financial Group Inc. will post 4.41 earnings per share for the current fiscal year.

Jefferies Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, August 18th. Jefferies Financial Group's dividend payout ratio is presently 60.38%.

Analyst Ratings Changes

JEF has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on Jefferies Financial Group from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of Jefferies Financial Group from $55.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, June 26th. Finally, Wall Street Zen lowered shares of Jefferies Financial Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Jefferies Financial Group presently has a consensus rating of "Hold" and a consensus price target of $66.00.

Jefferies Financial Group Company Profile

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.