State of New Jersey Common Pension Fund D Sells 2,835 Shares of Stifel Financial Corporation $SF

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Stifel Financial Corporation by 8.8%, selling 2,835 shares in the first quarter, leaving them with 29,552 shares valued at approximately $2.79 million.
• Stifel Financial recently reported earnings of $1.71 per share, exceeding estimates, with a revenue increase of 5.4% year-over-year.
• The company declared a quarterly dividend of $0.46 per share, reflecting a yield of 1.7% and a payout ratio of 35.66%.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,552 shares of the financial services provider's stock after selling 2,835 shares during the period. State of New Jersey Common Pension Fund D's holdings in Stifel Financial were worth $2,786,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Stifel Financial during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of Stifel Financial during the first quarter worth $27,000. Allworth Financial LP lifted its holdings in shares of Stifel Financial by 67.7% during the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock worth $29,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Stifel Financial by 123.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after purchasing an additional 183 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Stifel Financial by 53.0% during the first quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock worth $46,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 82.01% of the company's stock.

Insiders Place Their Bets

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of Stifel Financial stock in a transaction on Friday, June 6th. The shares were sold at an average price of $96.69, for a total value of $966,900.00. Following the completion of the sale, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company's stock.

Stifel Financial Price Performance

SF stock opened at $110.8840 on Thursday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28. Stifel Financial Corporation has a 12-month low of $73.27 and a 12-month high of $120.64. The company's fifty day simple moving average is $107.82 and its 200 day simple moving average is $99.81.

Stifel Financial (NYSE:SF - Get Free Report) last posted its quarterly earnings results 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. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently declared 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 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Stifel Financial's payout ratio is 35.66%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $115.00 to $135.00 in a report on Thursday, July 31st. Wells Fargo & Company lifted 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. JMP Securities boosted 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. Wolfe Research upgraded shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently 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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