Stifel Financial Corporation (NYSE:SF) Shares Purchased by Algebris UK Ltd

Key Points

• Algebris UK Ltd significantly increased its stake in Stifel Financial by 108.9%, now holding 61,833 shares valued at approximately $5,396,000.
• The stock price of Stifel Financial is currently down 0.8% with a market capitalization of $11.48 billion, trading at $111.78.
• Stifel Financial recently announced a quarterly dividend of $0.46, representing a 1.65% dividend yield with a payout ratio of 35.18%.

Algebris UK Ltd boosted its stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 108.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,833 shares of the financial services provider's stock after acquiring an additional 32,237 shares during the quarter. Stifel Financial comprises 1.0% of Algebris UK Ltd's investment portfolio, making the stock its 27th biggest holding. Algebris UK Ltd owned 0.06% of Stifel Financial worth $5,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its holdings in Stifel Financial by 26.0% in the 4th quarter. LPL Financial LLC now owns 57,942 shares of the financial services provider's stock valued at $6,400,000 after purchasing an additional 11,960 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Stifel Financial in the 4th quarter valued at approximately $423,000. JPMorgan Chase & Co. boosted its holdings in Stifel Financial by 45.3% in the 4th quarter. JPMorgan Chase & Co. now owns 299,261 shares of the financial services provider's stock valued at $31,746,000 after purchasing an additional 93,341 shares in the last quarter. Norges Bank purchased a new stake in Stifel Financial in the 4th quarter valued at approximately $137,448,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Stifel Financial by 7.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,065 shares of the financial services provider's stock valued at $1,598,000 after purchasing an additional 1,108 shares in the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael J. Zimmerman sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the director 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SF. JPMorgan Chase & Co. lowered their price objective on Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted their price objective on Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup raised Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $115.00 to $135.00 in a report on Thursday. 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 research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $115.78.

Stifel Financial Price Performance

NYSE:SF traded down $2.90 during mid-day trading on Friday, hitting $111.22. 567,663 shares of the company's stock traded hands, compared to its average volume of 803,415. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.81. The firm's 50 day simple moving average is $102.80 and its 200 day simple moving average is $99.94. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64. The company has a market cap of $11.43 billion, a PE ratio of 21.58 and a beta of 1.09.

Stifel Financial (NYSE:SF - Get Free Report) last posted its 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 last year, the firm posted $1.60 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts expect that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.84 annualized dividend and a yield of 1.7%. Stifel Financial's payout ratio is presently 35.18%.

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.