Russell Investments Group Ltd. Boosts Stock Position in Stifel Financial Corporation $SF

Key Points

• Russell Investments Group Ltd. increased its stake in Stifel Financial Corporation by 93.8%, acquiring an additional 13,814 shares, bringing its total holdings to 28,536 shares valued at approximately $2.69 million.
• Multiple institutional investors, including GAMMA Investing LLC and Vanguard Group Inc., significantly increased their holdings in Stifel Financial, indicating robust investor confidence in the company.
• Stifel Financial recently reported earnings per share (EPS) of $1.71 for the quarter, exceeding analyst expectations, alongside a 5.4% year-over-year revenue increase to $1.28 billion.

Russell Investments Group Ltd. raised its stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 93.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,536 shares of the financial services provider's stock after buying an additional 13,814 shares during the quarter. Russell Investments Group Ltd.'s holdings in Stifel Financial were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Stifel Financial during the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in shares of Stifel Financial in the first quarter valued at $27,000. Allworth Financial LP grew its holdings in shares of Stifel Financial by 67.7% in the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Stifel Financial by 123.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 183 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Stifel Financial by 53.0% in the first quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 170 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stifel Financial

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of Stifel Financial stock in a transaction dated 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 in the company, valued at $4,431,592.77. The trade was a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 7 shares of company stock valued at $781 in the last 90 days. 3.28% of the stock is owned by insiders.

Stifel Financial Stock Down 0.0%

Shares of SF stock traded down $0.01 on Thursday, hitting $116.37. The stock had a trading volume of 544,682 shares, compared to its average volume of 790,661. 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 business has a 50 day moving average price of $109.61 and a 200 day moving average price of $99.86. The company has a market cap of $11.89 billion, a PE ratio of 22.55 and a beta of 1.11. 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 released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Stifel Financial's payout ratio is 35.66%.

Analysts Set New Price Targets

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