Stifel Financial Corporation $SF Stock Position Lowered by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has reduced its stake in Stifel Financial by 21.5%, now holding 824,098 shares, which represent about 2.3% of its total portfolio.
• Several large investors increased their holdings, with Vanguard Group Inc. growing its position by 2.1%, and notable increases from other firms like Invesco Ltd. and GAMMA Investing LLC.
• Stifel Financial recently announced a quarterly dividend of $0.46 per share, slated for payment on September 16th, reflecting an annual yield of 1.7%.

Channing Capital Management LLC reduced its position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 824,098 shares of the financial services provider's stock after selling 226,002 shares during the period. Stifel Financial makes up approximately 2.3% of Channing Capital Management LLC's portfolio, making the stock its 8th largest position. Channing Capital Management LLC owned about 0.80% of Stifel Financial worth $77,679,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp grew its position in shares of Stifel Financial by 1.3% in the fourth quarter. Hancock Whitney Corp now owns 7,541 shares of the financial services provider's stock valued at $800,000 after purchasing an additional 99 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Stifel Financial by 4.2% in the first quarter. Journey Strategic Wealth LLC now owns 2,907 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 117 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Stifel Financial by 3.0% in the first quarter. Stratos Wealth Partners LTD. now owns 4,328 shares of the financial services provider's stock valued at $408,000 after purchasing an additional 127 shares during the last quarter. MML Investors Services LLC grew its position in shares of Stifel Financial by 0.5% in the fourth quarter. MML Investors Services LLC now owns 28,657 shares of the financial services provider's stock valued at $3,040,000 after purchasing an additional 136 shares during the last quarter. Finally, Allworth Financial LP grew its position 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 during the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the firm's 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 transaction, the director owned 45,833 shares of the company's stock, valued at approximately $4,431,592.77. This trade represents a 17.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have acquired 7 shares of company stock valued at $781. Company insiders own 4.57% of the company's stock.

Stifel Financial Trading Up 0.9%

NYSE:SF traded up $0.98 during trading hours on Monday, reaching $115.31. 671,470 shares of the company were exchanged, compared to its average volume of 793,888. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 22.35 and a beta of 1.11. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The stock has a 50 day simple moving average of $108.47 and a 200 day simple moving average of $99.62.

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, topping analysts' consensus estimates of $1.65 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. Stifel Financial's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. As a group, analysts predict that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Stifel Financial's dividend payout ratio (DPR) is currently 35.66%.

Analyst Upgrades and Downgrades

SF has been the topic of several research reports. JMP Securities increased their price target on shares of Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Stifel Nicolaus set a $135.00 target price on shares of Stifel Financial in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Stifel Financial presently has an average rating of "Moderate Buy" and an average target price of $115.78.

About Stifel Financial

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.