T. Rowe Price Investment Management Inc. Decreases Stake in Stifel Financial Corporation $SF

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in Stifel Financial by 54.9%, selling 503,485 shares, leaving them with 413,779 shares valued at approximately $39 million.
• Several other hedge funds have adjusted their holdings, with some increasing their positions; overall, institutional investors own 82.01% of Stifel Financial's stock.
• Stifel Financial recently reported better-than-expected earnings of $1.71 per share and announced a quarterly dividend of $0.46, reflecting a dividend yield of 1.6%.

T. Rowe Price Investment Management Inc. cut its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,779 shares of the financial services provider's stock after selling 503,485 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.40% of Stifel Financial worth $39,003,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Stifel Financial during the first quarter worth $68,000. Quantbot Technologies LP bought a new position in shares of Stifel Financial during the first quarter valued at about $278,000. Northern Trust Corp grew its stake in shares of Stifel Financial by 0.6% during the first quarter. Northern Trust Corp now owns 1,136,207 shares of the financial services provider's stock valued at $107,099,000 after buying an additional 7,229 shares during the last quarter. Versor Investments LP grew its stake in shares of Stifel Financial by 138.1% during the first quarter. Versor Investments LP now owns 11,288 shares of the financial services provider's stock valued at $1,064,000 after buying an additional 6,548 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Stifel Financial by 5.2% during the first quarter. American Century Companies Inc. now owns 75,239 shares of the financial services provider's stock worth $7,092,000 after purchasing an additional 3,752 shares during the period. 82.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Stifel Financial

In related 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 transaction of $966,900.00. Following the sale, the director owned 45,833 shares in the company, valued at approximately $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 7 shares of company stock valued at $781 in the last quarter. 3.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SF has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Stifel Nicolaus set a $135.00 price target on shares of Stifel Financial in a research report on Thursday, July 31st. Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, JMP Securities lifted their price target on shares of Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Four 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, Stifel Financial has a consensus rating of "Moderate Buy" and an average price target of $115.78.

Stifel Financial Stock Down 0.0%

Shares of SF traded down $0.01 during mid-day trading on Thursday, hitting $116.37. The company's stock had a trading volume of 353,139 shares, compared to its average volume of 789,354. The company's 50-day moving average is $109.61 and its 200-day moving average is $99.86. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 22.55 and a beta of 1.11. 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 EPS for the quarter, beating analysts' consensus estimates of $1.65 by $0.06. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. Stifel Financial's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Stifel Financial Corporation will post 8.26 EPS for the current fiscal year.

Stifel Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.6%. Stifel Financial's dividend payout ratio is presently 35.66%.

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.