TD Asset Management Inc Sells 15,190 Shares of 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 decreased its stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 71.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & 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 quarter.

Several other large investors also recently made changes to their positions in SF. NBC Securities Inc. bought a new stake in shares of Stifel Financial during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in Stifel Financial during the first quarter worth $27,000. Allworth Financial LP boosted its holdings in Stifel Financial by 67.7% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Stifel Financial by 123.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after purchasing an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Stifel Financial by 52.1% during the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 82.01% of the company's stock.

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 dated Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction of $966,900.00. Following the transaction, the director directly owned 45,833 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on SF shares. Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $115.00 to $135.00 in a report on Thursday, July 31st. JMP Securities increased their target price on shares of Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Stifel Nicolaus set a $135.00 target price on shares of Stifel Financial in a report on Thursday. Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Stifel Financial from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $115.78.

Stifel Financial Stock Performance

Shares of SF stock opened at $112.35 on Tuesday. The stock has a market cap of $11.54 billion, a P/E ratio of 21.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.77. The company has a fifty day moving average price of $103.54 and a two-hundred day moving average price of $99.80. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. As a group, equities analysts predict that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 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%.

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.

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