Principal Financial Group Inc. grew its stake in Stifel Financial Corp (NYSE:SF) by 99.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 637,881 shares of the financial services provider’s stock after buying an additional 317,905 shares during the quarter. Principal Financial Group Inc.’s holdings in Stifel Financial were worth $33,655,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SF. Oregon Public Employees Retirement Fund grew its stake in Stifel Financial by 4,042.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,179,559 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,151,081 shares in the last quarter. Norges Bank purchased a new position in Stifel Financial in the 4th quarter worth approximately $28,388,000. Macquarie Group Ltd. grew its stake in Stifel Financial by 17.8% in the 4th quarter. Macquarie Group Ltd. now owns 3,143,933 shares of the financial services provider’s stock worth $130,222,000 after buying an additional 474,379 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in Stifel Financial in the 4th quarter worth approximately $13,828,000. Finally, Dimensional Fund Advisors LP grew its stake in Stifel Financial by 9.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,163,511 shares of the financial services provider’s stock worth $166,907,000 after buying an additional 260,956 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.
In related news, Director James M. Oates sold 20,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $58.61, for a total transaction of $1,172,200.00. Following the completion of the sale, the director now directly owns 17,397 shares in the company, valued at approximately $1,019,638.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victor Nesi sold 1,250 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $56.04, for a total transaction of $70,050.00. Following the sale, the insider now owns 184,910 shares of the company’s stock, valued at $10,362,356.40. The disclosure for this sale can be found here. 3.77% of the stock is currently owned by corporate insiders.
Shares of Stifel Financial stock opened at $57.06 on Thursday. Stifel Financial Corp has a 52-week low of $38.39 and a 52-week high of $60.77. The firm has a market capitalization of $4.10 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.72 and a quick ratio of 0.65.
Stifel Financial (NYSE:SF) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.11. Stifel Financial had a net margin of 13.28% and a return on equity of 14.77%. The company had revenue of $770.40 million during the quarter, compared to analysts’ expectations of $745.21 million. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Stifel Financial Corp will post 5.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.15 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.05%. Stifel Financial’s dividend payout ratio (DPR) is 11.36%.
A number of research firms have commented on SF. Goldman Sachs Group raised shares of Stifel Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $70.00 in a research note on Thursday, May 9th. JMP Securities boosted their price target on shares of Stifel Financial from $61.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Monday, April 8th. Wells Fargo & Co boosted their price target on shares of Stifel Financial from $54.00 to $56.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of Stifel Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, ValuEngine raised shares of Stifel Financial from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Stifel Financial presently has an average rating of “Buy” and a consensus price target of $62.67.
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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, the United Kingdom, rest of Europe, and Asia. The company operates through three segments: Global Wealth Management, Institutional Group, and Other.
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