Stifel Financial Corporation $SF Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in Stifel Financial Corporation by 2.6%, now owning 112,833 shares valued at approximately $10.6 million.
• Stifel Financial reported a quarterly EPS of $1.71 and revenues of $1.28 billion, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.46 per share, with a yield of 1.6%, set to be paid on September 16th.

Corebridge Financial Inc. trimmed its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,833 shares of the financial services provider's stock after selling 2,961 shares during the period. Corebridge Financial Inc. owned 0.11% of Stifel Financial worth $10,636,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Stifel Financial in the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in Stifel Financial in the 1st quarter worth about $27,000. Allworth Financial LP boosted its stake in Stifel Financial by 67.7% in the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock worth $29,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Stifel Financial by 123.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after buying an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Stifel Financial by 53.0% in the 1st quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock worth $46,000 after buying an additional 170 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Stifel Financial Trading Up 0.4%

Shares of SF opened at $116.51 on Thursday. The stock's 50-day moving average is $109.61 and its two-hundred day moving average is $99.86. The stock has a market cap of $11.90 billion, a PE ratio of 22.58 and a beta of 1.11. Stifel Financial Corporation has a 12 month low of $73.27 and a 12 month high of $120.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77.

Stifel Financial (NYSE:SF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 EPS 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 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Equities analysts forecast that Stifel Financial Corporation will post 8.26 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 16th. Shareholders 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 dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Stifel Financial's payout ratio is currently 35.66%.

Analysts Set New Price Targets

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

Insider Activity at Stifel Financial

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the transaction, the director owned 45,833 shares in the company, valued at $4,431,592.77. The trade was a 17.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 7 shares of company stock worth $781 in the last 90 days. Insiders own 3.28% of the company's stock.

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.

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