Millennium Management LLC cut its stake in shares of Stifel Financial Corp (NYSE:SF) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,182,955 shares of the financial services provider’s stock after selling 44,685 shares during the quarter. Millennium Management LLC owned about 1.73% of Stifel Financial worth $70,457,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Stifel Financial by 2.9% during the fourth quarter. BlackRock Inc. now owns 7,263,723 shares of the financial services provider’s stock valued at $432,628,000 after buying an additional 206,402 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Stifel Financial by 9.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,061,808 shares of the financial services provider’s stock valued at $163,684,000 after purchasing an additional 257,689 shares during the period. Macquarie Group Ltd. lifted its position in Stifel Financial by 9.0% during the third quarter. Macquarie Group Ltd. now owns 2,369,852 shares of the financial services provider’s stock valued at $126,692,000 after purchasing an additional 194,905 shares during the period. Alliancebernstein L.P. lifted its position in Stifel Financial by 11.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,949,293 shares of the financial services provider’s stock valued at $116,100,000 after purchasing an additional 208,013 shares during the period. Finally, Stifel Financial Corp lifted its position in Stifel Financial by 1,010.0% during the third quarter. Stifel Financial Corp now owns 1,373,271 shares of the financial services provider’s stock valued at $73,418,000 after purchasing an additional 1,249,556 shares during the period. 85.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on SF shares. Wells Fargo boosted their target price on shares of Stifel Financial from $64.00 to $70.00 in a research report on Thursday, January 4th. Goldman Sachs upgraded shares of Stifel Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $77.00 in a research report on Monday, January 8th. Nomura boosted their target price on shares of Stifel Financial from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Stifel Financial from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Friday, January 5th. Finally, Instinet upgraded shares of Stifel Financial from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Stifel Financial presently has an average rating of “Buy” and an average target price of $69.17.
In other Stifel Financial news, Vice Chairman Ben A. Plotkin sold 9,012 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $63.30, for a total value of $570,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.60% of the company’s stock.
Stifel Financial Corp (NYSE:SF) opened at $65.17 on Friday. The firm has a market cap of $4,682.53, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. Stifel Financial Corp has a 1 year low of $41.93 and a 1 year high of $68.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.62.
Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.55. The business had revenue of $804.10 million during the quarter, compared to the consensus estimate of $745.44 million. Stifel Financial had a net margin of 6.25% and a return on equity of 12.04%. The company’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. sell-side analysts expect that Stifel Financial Corp will post 5.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Stifel Financial’s previous quarterly dividend of $0.10. Stifel Financial’s dividend payout ratio is 22.43%.
About Stifel Financial
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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