Assenagon Asset Management S.A. Sells 177,411 Shares of Stifel Financial Corp. (NYSE:SF)

Assenagon Asset Management S.A. lowered its position in shares of Stifel Financial Corp. (NYSE:SF - Free Report) by 81.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,439 shares of the financial services provider's stock after selling 177,411 shares during the period. Assenagon Asset Management S.A.'s holdings in Stifel Financial were worth $2,727,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC acquired a new position in Stifel Financial in the 3rd quarter worth $30,000. First Horizon Advisors Inc. lifted its stake in shares of Stifel Financial by 97.5% in the third quarter. First Horizon Advisors Inc. now owns 640 shares of the financial services provider's stock worth $39,000 after acquiring an additional 316 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Stifel Financial by 111.4% in the first quarter. Belpointe Asset Management LLC now owns 687 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 362 shares during the last quarter. Quilter Plc acquired a new stake in Stifel Financial during the 1st quarter valued at approximately $682,191,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Stifel Financial by 39.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the financial services provider's stock worth $45,000 after purchasing an additional 206 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com upgraded Stifel Financial from a "hold" rating to a "buy" rating in a research note on Thursday, January 25th. TD Cowen increased their price objective on shares of Stifel Financial from $86.50 to $92.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. Finally, UBS Group boosted their target price on shares of Stifel Financial from $74.00 to $78.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Stifel Financial presently has a consensus rating of "Moderate Buy" and an average price target of $79.25.

Stifel Financial Stock Performance

Shares of SF stock traded up $0.47 on Wednesday, hitting $77.06. 425,817 shares of the stock traded hands, compared to its average volume of 543,388. The company has a market capitalization of $7.92 billion, a PE ratio of 18.00 and a beta of 1.18. The company's fifty day moving average is $75.48 and its 200 day moving average is $67.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.82 and a quick ratio of 0.79. Stifel Financial Corp. has a 1-year low of $54.81 and a 1-year high of $78.33.

Stifel Financial (NYSE:SF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.19. Stifel Financial had a net margin of 11.60% and a return on equity of 12.32%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $1.58 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Stifel Financial Corp. will post 7.04 earnings per share for the current fiscal year.

Stifel Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Stifel Financial's previous quarterly dividend of $0.36. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. Stifel Financial's dividend payout ratio is 39.25%.

Insider Transactions at Stifel Financial

In related news, SVP Thomas B. Michaud sold 25,421 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $74.26, for a total transaction of $1,887,763.46. Following the completion of the sale, the senior vice president now directly owns 90,055 shares of the company's stock, valued at approximately $6,687,484.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Victor Nesi sold 36,000 shares of Stifel Financial stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $75.37, for a total transaction of $2,713,320.00. Following the sale, the insider now directly owns 54,732 shares of the company's stock, valued at $4,125,150.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas B. Michaud sold 25,421 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.26, for a total value of $1,887,763.46. Following the transaction, the senior vice president now owns 90,055 shares in the company, valued at $6,687,484.30. The disclosure for this sale can be found here. Insiders own 3.52% of the company's stock.

About Stifel Financial

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.