Wellington Management Group LLP Sells 110,697 Shares of Stifel Financial Corporation $SF

Key Points

• Wellington Management Group LLP has reduced its stake in Stifel Financial Corporation by 4.3%, owning now 2,478,267 shares valued at approximately $233.60 million.
• Stifel Financial posted $1.71 earnings per share for the last quarter, exceeding analysts' expectations by 6 cents, and showed a 5.4% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.46 per share, translating to an annualized dividend yield of 1.6% with a payout ratio of 35.66%.

Wellington Management Group LLP lowered its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 4.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,478,267 shares of the financial services provider's stock after selling 110,697 shares during the period. Wellington Management Group LLP owned 2.41% of Stifel Financial worth $233,601,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Stifel Financial in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Stifel Financial in the 1st quarter worth approximately $27,000. Allworth Financial LP lifted its position in shares of Stifel Financial by 67.7% in the 1st 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 period. MassMutual Private Wealth & Trust FSB lifted its position 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 purchasing an additional 183 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Stifel Financial by 53.0% in the 1st quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock worth $46,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 82.01% of the company's stock.

Insider Activity

In other news, Director Michael J. Zimmerman sold 10,000 shares of the company's stock in a transaction 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 owned 45,833 shares in the company, valued at $4,431,592.77. This represents a 17.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have acquired 7 shares of company stock valued at $781. Corporate insiders own 4.57% of the company's stock.

Stifel Financial Stock Up 0.5%

SF traded up $0.5380 during trading on Monday, hitting $114.8680. 111,736 shares of the company's stock were exchanged, compared to its average volume of 790,262. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28. The business's 50 day moving average is $108.47 and its two-hundred day moving average is $99.62. Stifel Financial Corporation has a fifty-two week low of $73.27 and a fifty-two week high of $120.64. The stock has a market cap of $11.74 billion, a P/E ratio of 22.26 and a beta of 1.11.

Stifel Financial (NYSE:SF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.46 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SF. Wells Fargo & Company boosted their target price on shares of Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus set a $135.00 target price on shares of Stifel Financial in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. JMP Securities boosted their target price on shares of Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $115.00 to $135.00 in a research report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Stifel Financial currently has an average rating of "Moderate Buy" and an average price target 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.