Wealth Enhancement Advisory Services LLC Trims Holdings in Stifel Financial Corporation $SF

Key Points

• Wealth Enhancement Advisory Services LLC has reduced its holdings in Stifel Financial Corporation by 36.6%, now owning 12,487 shares after selling 7,224 during the second quarter.
• Stifel Financial reported earnings of $1.71 per share, exceeding the consensus estimate of $1.65, while quarterly revenue increased by 5.4% year-over-year to $1.28 billion.
• The company announced a quarterly dividend of $0.46 per share, which translates to an annualized dividend of $1.84 and a yield of 1.6%.

Wealth Enhancement Advisory Services LLC trimmed its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 36.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,487 shares of the financial services provider's stock after selling 7,224 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Stifel Financial were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Radnor Capital Management LLC increased its stake in shares of Stifel Financial by 16.3% during the second quarter. Radnor Capital Management LLC now owns 5,532 shares of the financial services provider's stock valued at $574,000 after purchasing an additional 775 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Stifel Financial by 6.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,007 shares of the financial services provider's stock valued at $727,000 after buying an additional 401 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Stifel Financial by 12.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,486 shares of the financial services provider's stock valued at $6,070,000 after buying an additional 6,529 shares in the last quarter. Bank of New Hampshire raised its stake in Stifel Financial by 1.0% during the second quarter. Bank of New Hampshire now owns 9,639 shares of the financial services provider's stock valued at $1,000,000 after buying an additional 100 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Stifel Financial by 40.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the financial services provider's stock worth $48,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

Stifel Financial Trading Down 1.2%

Shares of SF stock opened at $113.54 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 22.00 and a beta of 1.13. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64. The firm has a fifty day moving average price of $113.50 and a 200-day moving average price of $101.65.

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

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.6%. Stifel Financial's payout ratio is 35.66%.

Analyst Ratings Changes

SF has been the subject of several analyst reports. Stifel Nicolaus set a $135.00 price target on Stifel Financial in a report on Thursday, July 31st. Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $115.00 to $135.00 in a research note on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Zacks Research cut shares of Stifel Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stifel Financial presently has a consensus rating of "Hold" and an average target price of $115.78.

Stifel Financial Company 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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