Squarepoint Ops LLC Purchases 514,052 Shares of Stifel Financial Corporation $SF

Key Points

• Squarepoint Ops LLC increased its Stifel Financial position by 716.1% in the second quarter, purchasing 514,052 shares and bringing its total holdings to 585,834 shares valued at approximately $40.9 million. Institutional investors collectively own 82.01% of the company.
• Stifel Financial reported quarterly EPS of $1.42, beating the $1.33 consensus estimate, while revenue rose 13% year over year to $1.45 billion. The stock opened at $80.73, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $91.90.
• The company declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a 1.7% yield. Director Maryam Brown separately sold 4,700 shares at an average price of $79.20.

Squarepoint Ops LLC boosted its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 716.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 585,834 shares of the financial services provider's stock after buying an additional 514,052 shares during the quarter. Squarepoint Ops LLC owned approximately 0.39% of Stifel Financial worth $40,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nykredit A S purchased a new position in shares of Stifel Financial during the second quarter worth approximately $387,000. Parkside Financial Bank & Trust boosted its stake in shares of Stifel Financial by 11.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,902 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 610 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Stifel Financial during the 2nd quarter valued at $698,000. California State Teachers Retirement System grew its holdings in shares of Stifel Financial by 6,765.3% during the 2nd quarter. California State Teachers Retirement System now owns 12,188,540 shares of the financial services provider's stock valued at $850,394,000 after purchasing an additional 12,011,002 shares during the last quarter. Finally, Studio Investment Management LLC raised its position in Stifel Financial by 48.6% in the 2nd quarter. Studio Investment Management LLC now owns 7,948 shares of the financial services provider's stock worth $555,000 after purchasing an additional 2,599 shares during the period. 82.01% of the stock is currently owned by institutional investors.

Stifel Financial Stock Down 0.9%

NYSE:SF opened at $80.73 on Wednesday. The firm's 50-day moving average price is $80.24 and its 200-day moving average price is $76.27. The company has a market capitalization of $12.19 billion, a PE ratio of 14.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.83. Stifel Financial Corporation has a 1-year low of $67.81 and a 1-year high of $89.83.

Stifel Financial (NYSE:SF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $1.71 EPS. Stifel Financial's quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Stifel Financial Corporation will post 6.36 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. Stifel Financial's dividend payout ratio (DPR) is currently 24.33%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SF shares. Wall Street Zen downgraded shares of Stifel Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Stifel Financial in a research note on Wednesday, August 26th. Zacks Research raised Stifel Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. UBS Group set a $90.00 price objective on Stifel Financial in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Stifel Financial from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $91.90.

Insider Activity

In other news, Director Maryam Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total transaction of $372,240.00. Following the completion of the transaction, the director directly owned 5,729 shares in the company, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.36% of the company's stock.

About Stifel Financial

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm's main business activities are organized into two core segments: Private Client Group and Institutional Group.

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