TD Asset Management Inc Lowers Holdings in Stifel Financial Corporation (NYSE:SF)

Key Points

• TD Asset Management Inc sold 15,190 shares of Stifel Financial, reducing its stake by 71% to 6,210 shares, valued at approximately $585,000.
• Several large investors made moves in Stifel Financial during the first quarter, with MassMutual Private Wealth & Trust increasing its holdings by 123.6%.
• Stifel Financial's stock has been upgraded by analysts, with Citigroup raising its target price from $115 to $135 and maintaining a "buy" rating.

TD Asset Management Inc trimmed its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 71.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,210 shares of the financial services provider's stock after selling 15,190 shares during the period. TD Asset Management Inc's holdings in Stifel Financial were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. NBC Securities Inc. acquired a new position in Stifel Financial during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of Stifel Financial during the 1st quarter valued at approximately $27,000. Allworth Financial LP boosted its stake in shares of Stifel Financial by 67.7% during the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock worth $29,000 after acquiring an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 acquiring an additional 183 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of 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 acquiring an additional 110 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of Stifel Financial stock in a transaction that occurred 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 completion of the sale, the director directly owned 45,833 shares of the company's stock, valued at approximately $4,431,592.77. The trade was a 17.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.28% of the company's stock.

Stifel Financial Price Performance

Shares of NYSE:SF traded up $1.50 on Friday, hitting $111.80. The company had a trading volume of 121,772 shares, compared to its average volume of 800,368. 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 company has a market cap of $11.48 billion, a PE ratio of 21.66 and a beta of 1.11. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The business has a 50 day moving average of $104.53 and a 200 day moving average of $99.95.

Stifel Financial (NYSE:SF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SF shares. JPMorgan Chase & Co. reduced their price objective on Stifel Financial from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. JMP Securities raised their price target on Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Wall Street Zen raised Stifel Financial from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and increased their price objective for the company from $115.00 to $135.00 in a research note on Thursday, July 31st. Finally, Wolfe Research upgraded shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 target price for the company in a report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $115.78.

Stifel Financial 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.