Stifel Financial Corporation $SF Position Cut by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Stifel Financial stake by 1.6% in the second quarter, selling 2,842 shares and retaining 174,696 shares valued at approximately $12.2 million. Institutional investors collectively own 82.01% of the company.
• Stifel Financial 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 stock recently traded at $76.74, below its 52-week high of $89.83.
• The company declared a quarterly dividend of $0.34 per share, equivalent to a 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $91.90, although some firms recently issued hold ratings.

California State Teachers Retirement System trimmed its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,696 shares of the financial services provider's stock after selling 2,842 shares during the period. California State Teachers Retirement System owned 0.12% of Stifel Financial worth $12,188,540 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Studio Investment Management LLC boosted its position in Stifel Financial by 48.6% during the second quarter. Studio Investment Management LLC now owns 7,948 shares of the financial services provider's stock valued at $555,000 after purchasing an additional 2,599 shares during the last quarter. Readystate Asset Management LP bought a new position in Stifel Financial during the second quarter worth about $215,000. AlphaGrep UK Ltd purchased a new position in Stifel Financial in the second quarter worth $833,000. AXQ Capital LP grew its position in shares of Stifel Financial by 34.7% in the 2nd quarter. AXQ Capital LP now owns 31,972 shares of the financial services provider's stock worth $2,231,000 after buying an additional 8,236 shares during the last quarter. Finally, Nykredit A S bought a new position in Stifel Financial in the 2nd quarter worth about $387,000. Institutional investors own 82.01% of the company's stock.

Stifel Financial Price Performance

NYSE:SF traded down $1.23 during trading hours on Tuesday, hitting $76.74. 259,379 shares of the company's stock traded hands, compared to its average volume of 1,371,369. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. Stifel Financial Corporation has a 52 week low of $67.81 and a 52 week high of $89.83. The business's fifty day simple moving average is $80.73 and its two-hundred day simple moving average is $76.33. The firm has a market cap of $11.59 billion, a P/E ratio of 13.73 and a beta of 0.98.

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

Stifel Financial Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.8%. Stifel Financial's dividend payout ratio is currently 24.33%.

Insider Activity

In other news, Director Maryam Brown sold 4,700 shares of Stifel Financial stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total value of $372,240.00. Following the transaction, the director directly owned 5,729 shares of the company's stock, valued at $453,736.80. The trade was a 45.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Stifel Financial Profile

Stifel Financial Corp. is a diversified financial services company headquartered in St. Louis, Missouri. Through its principal broker-dealer, Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, institutional brokerage, securities research, sales and trading, and public finance services to individuals, corporations, municipalities and institutional investors.

Its wealth management business offers investment advisory, brokerage, banking and financial planning services through financial advisors and private client groups.

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