Tocqueville Asset Management L.P. Buys Shares of 66,635 Jefferies Financial Group Inc. $JEF

Key Points

• Tocqueville Asset Management acquired 66,635 Jefferies Financial Group shares in the second quarter, valued at approximately $3.33 million. Institutional investors and hedge funds collectively own 60.88% of JEF.
• Jefferies reported quarterly EPS of $1.02, below the $1.16 consensus estimate, while revenue rose 35% year over year to $2.21 billion. Analysts maintain an average “Hold” rating with a $62.62 price target.
• The company authorized a $250 million share-buyback program and declared a quarterly dividend of $0.40, representing a 3.1% annualized yield; it is also expanding its private-credit platform while facing a shareholder-investigation notice.

Tocqueville Asset Management L.P. bought a new stake in Jefferies Financial Group Inc. (NYSE:JEF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 66,635 shares of the financial services provider's stock, valued at approximately $3,330,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC increased its position in Jefferies Financial Group by 75.0% during the 4th quarter. Salomon & Ludwin LLC now owns 413 shares of the financial services provider's stock worth $27,000 after purchasing an additional 177 shares during the period. Smithfield Trust Co purchased a new position in shares of Jefferies Financial Group in the fourth quarter valued at $27,000. CX Institutional increased its holdings in Jefferies Financial Group by 77.6% during the 2nd quarter. CX Institutional now owns 547 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 239 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Jefferies Financial Group during the 4th quarter worth approximately $28,000. Finally, Ramirez Asset Management Inc. acquired a new position in shares of Jefferies Financial Group during the 4th quarter worth approximately $31,000. 60.88% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Jefferies Financial Group

Here are the key news stories impacting Jefferies Financial Group this week:

• Positive Sentiment: Expansion of private-credit platform: Jefferies Credit Partners is reportedly seeking approximately $1.16 billion, or €1 billion, for a fund focused on private-credit investments in the secondary market. The fund could support fee generation and expand Jefferies’ asset-management and alternative-investment operations. Jefferies Credit Partners Is Moving Its Own Loans Into a New Fund
• Neutral Sentiment: Broad research activity reinforces the Jefferies franchise: Jefferies analysts issued recommendations on Nvidia, Indian two-wheeler companies, Emmvee Photovoltaic Power, Turtlemint Fintech, Bajaj Housing Finance, Swiggy, Jupiter Wagons and BSE. These reports may generate advisory and trading visibility for Jefferies, but they do not directly change JEF’s earnings outlook. Jefferies Research and Analyst Reports
• Negative Sentiment: Shareholder-investigation notice adds legal overhang: Bragar Eagel & Squire said it is investigating Jefferies Financial Group on behalf of shareholders who suffered losses and invited investors to contact the firm. Such announcements can increase headline and litigation risk, even though they do not establish wrongdoing or indicate that a lawsuit will succeed. Bragar Eagel & Squire Investigation of Jefferies Financial Group

Jefferies Financial Group Stock Performance

Shares of JEF opened at $51.76 on Friday. Jefferies Financial Group Inc. has a 1 year low of $35.53 and a 1 year high of $71.04. The company's 50 day simple moving average is $55.53 and its 200 day simple moving average is $50.98. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.46 and a beta of 1.54. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.98 and a current ratio of 0.98.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last released its earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.14). The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.30 billion. Jefferies Financial Group had a return on equity of 9.23% and a net margin of 7.58%.The firm's revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Jefferies Financial Group Inc. will post 3.71 EPS for the current year.

Jefferies Financial Group declared that its board has authorized a stock buyback program on Wednesday, June 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Jefferies Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. Jefferies Financial Group's payout ratio is currently 44.69%.

Analysts Set New Price Targets

JEF has been the topic of a number of analyst reports. Weiss Ratings upgraded Jefferies Financial Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Morgan Stanley boosted their price target on Jefferies Financial Group from $44.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 9th. Loop Capital set a $60.00 price objective on Jefferies Financial Group in a research report on Monday, June 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Jefferies Financial Group in a research note on Friday, June 5th. Finally, UBS Group dropped their price objective on Jefferies Financial Group from $67.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jefferies Financial Group has an average rating of "Hold" and an average price target of $62.62.

Jefferies Financial Group Profile

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.

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