Cinctive Capital Management LP Trims Stock Position in Stifel Financial Corporation $SF

Key Points

• Cinctive Capital Management LP significantly reduced its stake in Stifel Financial Corporation by 88.7%, owning only 7,890 shares after selling 62,059 shares during the first quarter.
• Analysts have mixed ratings on Stifel Financial with upgrades from several institutions, raising target prices significantly; Wells Fargo increased theirs from $102 to $125.
• Stifel Financial announced a quarterly dividend of $0.46 per share, which will be distributed on September 16th, representing an annualized yield of 1.6%.

Cinctive Capital Management LP lowered its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 88.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,890 shares of the financial services provider's stock after selling 62,059 shares during the period. Cinctive Capital Management LP's holdings in Stifel Financial were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Journey Strategic Wealth LLC boosted its position in Stifel Financial by 4.2% during the first quarter. Journey Strategic Wealth LLC now owns 2,907 shares of the financial services provider's stock worth $274,000 after purchasing an additional 117 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Stifel Financial by 3.0% during the first quarter. Stratos Wealth Partners LTD. now owns 4,328 shares of the financial services provider's stock worth $408,000 after purchasing an additional 127 shares in the last quarter. Allworth Financial LP boosted its position in 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 in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Stifel Financial by 2.7% in the 1st quarter. Venturi Wealth Management LLC now owns 5,549 shares of the financial services provider's stock valued at $523,000 after buying an additional 146 shares during the period. Finally, Snowden Capital Advisors LLC grew its stake in shares of Stifel Financial by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 8,436 shares of the financial services provider's stock valued at $895,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 82.01% of the company's stock.

Stifel Financial Stock Up 0.4%

NYSE:SF traded up $0.43 during trading hours on Wednesday, hitting $113.03. The company's stock had a trading volume of 389,333 shares, compared to its average volume of 781,830. The stock has a fifty day moving average of $111.92 and a 200-day moving average of $100.13. The stock has a market capitalization of $11.55 billion, a P/E ratio of 21.90 and a beta of 1.13. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28.

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, topping the consensus estimate of $1.65 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, equities analysts forecast that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Zacks Research downgraded shares of Stifel Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday. Stifel Nicolaus set a $135.00 price objective on shares of Stifel Financial in a research note on Thursday, July 31st. JMP Securities raised their price objective on shares of Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.