Sumitomo Mitsui Trust Group Inc. Purchases New Holdings in Stifel Financial Corporation (NYSE:SF)

Sumitomo Mitsui Trust Group Inc. bought a new position in Stifel Financial Corporation (NYSE:SF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,479 shares of the financial services provider's stock, valued at approximately $1,648,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SF. NBC Securities Inc. purchased a new stake in Stifel Financial in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new stake in Stifel Financial in the 1st quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position 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 in the last quarter. Bessemer Group Inc. lifted its position in Stifel Financial by 52.1% in the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after buying an additional 110 shares in the last quarter. Finally, Quarry LP purchased a new stake in Stifel Financial in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 82.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Stifel Financial from $106.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. JMP Securities cut their price target on shares of Stifel Financial from $135.00 to $120.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Citigroup cut their price target on shares of Stifel Financial from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Wall Street Zen downgraded shares of Stifel Financial from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Stifel Financial has a consensus rating of "Hold" and an average target price of $105.50.

Insider Transactions at Stifel Financial

In other Stifel Financial 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 value of $966,900.00. Following the sale, the director directly owned 45,833 shares in the company, valued at $4,431,592.77. This trade represents a 17.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.28% of the stock is owned by corporate insiders.

Stifel Financial Stock Performance

NYSE:SF opened at $109.20 on Friday. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64. The firm's fifty day simple moving average is $96.22 and its 200 day simple moving average is $99.45. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $11.22 billion, a PE ratio of 20.88 and a beta of 1.09.

Stifel Financial (NYSE:SF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($1.15). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.32 billion. Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. On average, sell-side analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.46 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.84 annualized dividend and a yield of 1.68%. Stifel Financial's dividend payout ratio is 35.18%.

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.

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