The Manufacturers Life Insurance Company Has $8.06 Million Stock Position in Stifel Financial Corporation $SF

Key Points

• The Manufacturers Life Insurance Company increased its Stifel Financial stake by 49.9% in the first quarter, bringing its holdings to 109,065 shares valued at approximately $8.06 million. Institutional investors collectively own 82.01% of the company.
• Stifel Financial reported quarterly earnings of $1.42 per share, beating estimates of $1.33, while revenue rose 13% year over year to $1.45 billion.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $91.90; shares recently opened at $84.08.

The Manufacturers Life Insurance Company grew its holdings in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 49.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,065 shares of the financial services provider's stock after purchasing an additional 36,302 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Stifel Financial worth $8,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in Stifel Financial by 5.8% during the first quarter. NewEdge Advisors LLC now owns 2,673 shares of the financial services provider's stock valued at $252,000 after buying an additional 147 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Stifel Financial by 1,162.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,702 shares of the financial services provider's stock worth $255,000 after acquiring an additional 2,488 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Stifel Financial by 106.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 974 shares of the financial services provider's stock worth $101,000 after acquiring an additional 503 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Stifel Financial by 86.5% during the 2nd quarter. First Trust Advisors LP now owns 128,630 shares of the financial services provider's stock valued at $13,349,000 after acquiring an additional 59,662 shares during the last quarter. Finally, Amundi increased its holdings in shares of Stifel Financial by 51.0% during the 2nd quarter. Amundi now owns 31,906 shares of the financial services provider's stock valued at $3,425,000 after acquiring an additional 10,771 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

Stifel Financial Stock Up 0.6%

Shares of SF opened at $84.08 on Wednesday. The company has a 50-day simple moving average of $74.81 and a 200-day simple moving average of $76.56. The firm has a market capitalization of $12.90 billion, a P/E ratio of 15.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. Stifel Financial Corporation has a 52 week low of $67.81 and a 52 week high of $89.83.

Stifel Financial (NYSE:SF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.32%. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm's revenue was up 13.0% on a year-over-year basis. On average, equities research analysts expect that Stifel Financial Corporation will post 6.36 earnings per share for the current year.

Insider Activity at Stifel Financial

In other news, Director Maryam S. Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total transaction of $372,240.00. Following the sale, the director owned 5,729 shares of the company's stock, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on SF shares. Zacks Research upgraded Stifel Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. UBS Group set a $90.00 price objective on shares of Stifel Financial in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Stifel Financial from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stifel Financial in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Stifel Financial from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.90.

Stifel Financial Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm's main business activities are organized into two core segments: Private Client Group and Institutional Group.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source