Stifel Financial Corporation $SF Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Stifel Financial stake by 17% in the third quarter, adding 83,467 shares to own 574,229 shares valued at approximately $40.2 million. Institutional investors collectively own 82.01% of the company.
• Analysts remain generally positive, with five Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $86.08, although several firms recently lowered their targets.
• Stifel reported quarterly earnings of $1.42 per share, beating estimates of $1.33, while revenue rose 13% year over year to $1.45 billion. The company also maintains a quarterly dividend of $0.34 per share, representing a 2.0% annualized yield.

Assenagon Asset Management S.A. lifted its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 17.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 574,229 shares of the financial services provider's stock after acquiring an additional 83,467 shares during the quarter. Assenagon Asset Management S.A. owned 0.38% of Stifel Financial worth $40,219,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Tempus Wealth Planning LLC purchased a new stake in shares of Stifel Financial during the third quarter valued at approximately $206,000. First Citizens Bank & Trust Co. bought a new position in shares of Stifel Financial in the third quarter worth approximately $800,000. Krilogy Financial LLC increased its stake in shares of Stifel Financial by 13.1% in the third quarter. Krilogy Financial LLC now owns 4,650 shares of the financial services provider's stock worth $326,000 after buying an additional 540 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Stifel Financial by 52.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 5,019 shares of the financial services provider's stock worth $352,000 after buying an additional 1,720 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Stifel Financial by 21.2% in the third quarter. GAMMA Investing LLC now owns 12,713 shares of the financial services provider's stock worth $890,000 after buying an additional 2,221 shares during the period. Hedge funds and other institutional investors own 82.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group reiterated a "buy" rating and set a $84.00 price target (down from $90.00) on shares of Stifel Financial in a report on Wednesday, October 7th. JPMorgan Chase & Co. cut their price target on shares of Stifel Financial from $86.00 to $82.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Stifel Financial in a research report on Wednesday, August 26th. BMO Capital Markets lowered their price objective on shares of Stifel Financial from $85.00 to $75.00 and set a "market perform" rating for the company in a research note on Tuesday, October 6th. Finally, Capital One Financial set a $75.00 price objective on shares of Stifel Financial in a research note on Tuesday, October 6th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.08.

Stifel Financial Stock Performance

Shares of Stifel Financial stock opened at $67.45 on Friday. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 12.07 and a beta of 1.01. 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 $66.89 and a 1 year high of $89.83. The firm's 50-day moving average is $76.66 and its 200 day moving average is $76.06.

Stifel Financial (NYSE:SF - Get Free Report) last issued its 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. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.42 billion. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 earnings per share. Sell-side analysts anticipate that Stifel Financial Corporation will post 6.17 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.0%. Stifel Financial's dividend payout ratio (DPR) is presently 24.33%.

Insider Activity at Stifel Financial

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

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, institutional brokerage, equity and fixed-income research, securities trading, and asset management services.

Its wealth management business serves individual investors, families, businesses, and institutions through financial planning, investment advisory, brokerage, banking, and related services.

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