Strs Ohio Invests $7.29 Million in Stifel Financial Corporation $SF

Key Points

• Strs Ohio has invested approximately $7.29 million in Stifel Financial Corporation by acquiring 77,325 shares, representing about 0.08% of the company.
• Various hedge funds have also increased their holdings in Stifel Financial, with notable increases including Allworth Financial LP raising its stake by 67.7% in the first quarter.
• Stifel Financial recently announced a quarterly dividend of $0.46 per share, reflecting a 1.6% yield and indicating a payout ratio of 35.66%.

Strs Ohio bought a new position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 77,325 shares of the financial services provider's stock, valued at approximately $7,289,000. Strs Ohio owned about 0.08% of Stifel Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Journey Strategic Wealth LLC increased its position in shares of 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 acquiring an additional 117 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Stifel Financial by 3.0% in 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 grew its stake in Stifel Financial by 67.7% in 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 Stifel Financial by 2.7% in the first quarter. Venturi Wealth Management LLC now owns 5,549 shares of the financial services provider's stock worth $523,000 after purchasing an additional 146 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Stifel Financial by 5.8% in the first quarter. NewEdge Advisors LLC now owns 2,673 shares of the financial services provider's stock worth $252,000 after purchasing an additional 147 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on SF shares. Wall Street Zen upgraded Stifel Financial from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Wells Fargo & Company lifted their price target on Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup upgraded Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $115.00 to $135.00 in a research note on Thursday, July 31st. Stifel Nicolaus set a $135.00 target price on Stifel Financial in a research note on Thursday, July 31st. Finally, Zacks Research downgraded Stifel Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $115.78.

Stifel Financial Stock Performance

Shares of NYSE SF opened at $115.29 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $112.27 and a 200-day simple moving average of $100.31. The company has a market cap of $11.78 billion, a PE ratio of 22.34 and a beta of 1.13. Stifel Financial Corporation has a 12-month low of $73.27 and a 12-month high of $120.64.

Stifel Financial (NYSE:SF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The firm's quarterly revenue 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 year.

Stifel Financial Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.