Principal Financial Group Inc. lifted its holdings in shares of Stifel Financial Corporation (NYSE:SF) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,069 shares of the financial services provider’s stock after purchasing an additional 7,101 shares during the period. Principal Financial Group Inc. owned about 0.42% of Stifel Financial Corporation worth $13,245,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Stifel Financial Corporation by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,570 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 212 shares during the period. Quantbot Technologies LP bought a new stake in Stifel Financial Corporation in the 1st quarter valued at about $190,000. World Asset Management Inc raised its stake in Stifel Financial Corporation by 4.0% in the 1st quarter. World Asset Management Inc now owns 4,170 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 160 shares during the period. M&T Bank Corp bought a new stake in Stifel Financial Corporation in the 1st quarter valued at about $209,000. Finally, Greenwood Capital Associates LLC raised its stake in Stifel Financial Corporation by 2.9% in the 2nd quarter. Greenwood Capital Associates LLC now owns 4,502 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 129 shares during the period. Institutional investors own 86.93% of the company’s stock.
Shares of Stifel Financial Corporation (NYSE SF) opened at 50.00 on Thursday. The company has a 50-day moving average price of $48.57 and a 200-day moving average price of $47.76. The company has a market capitalization of $3.42 billion, a PE ratio of 25.81 and a beta of 1.70. Stifel Financial Corporation has a 52 week low of $36.71 and a 52 week high of $56.62.
Stifel Financial Corporation (NYSE:SF) last posted its earnings results on Monday, July 31st. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. Stifel Financial Corporation had a return on equity of 9.30% and a net margin of 6.03%. The company had revenue of $725.60 million for the quarter, compared to the consensus estimate of $689.67 million. During the same quarter in the prior year, the company earned $0.69 earnings per share. Stifel Financial Corporation’s revenue was up 11.3% on a year-over-year basis. Analysts predict that Stifel Financial Corporation will post $3.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, August 30th. Stifel Financial Corporation’s dividend payout ratio is 20.73%.
In related news, Director David A. Peacock acquired 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price of $50.03 per share, with a total value of $225,135.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelvin R. Westbrook sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $48.08, for a total value of $250,016.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $321,366.72. The disclosure for this sale can be found here. 5.14% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on SF. BidaskClub cut Stifel Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. TheStreet upgraded Stifel Financial Corporation from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Zacks Investment Research cut Stifel Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. JMP Securities restated a “neutral” rating on shares of Stifel Financial Corporation in a research note on Friday, August 18th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $50.00 price objective (down from $54.00) on shares of Stifel Financial Corporation in a research note on Monday, June 12th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.20.
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About Stifel Financial Corporation
Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. It operates through three segments: Global Wealth Management, Institutional Group and Other. The Global Wealth Management segment consists of the Private Client Group and Stifel Bank businesses.
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