State of Michigan Retirement System Buys 12,643 Shares of Stifel Financial Corporation $SF

State of Michigan Retirement System boosted its stake in Stifel Financial Corporation (NYSE:SF) by 52.5% during the first quarter, Holdings Channel.com reports. The firm owned 36,730 shares of the financial services provider’s stock after buying an additional 12,643 shares during the period. State of Michigan Retirement System’s holdings in Stifel Financial were worth $2,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SF. Horizon Investments LLC increased its stake in shares of Stifel Financial by 146.7% in the fourth quarter. Horizon Investments LLC now owns 63,089 shares of the financial services provider’s stock worth $7,900,000 after buying an additional 37,516 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Stifel Financial by 49.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,209 shares of the financial services provider’s stock valued at $2,824,000 after buying an additional 12,727 shares during the period. Brandywine Oak Private Wealth LLC boosted its position in Stifel Financial by 40.0% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 66,682 shares of the financial services provider’s stock valued at $4,929,000 after buying an additional 19,053 shares during the period. Strs Ohio grew its holdings in Stifel Financial by 25.8% in the 4th quarter. Strs Ohio now owns 72,168 shares of the financial services provider’s stock worth $9,037,000 after acquiring an additional 14,779 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Stifel Financial by 43.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 72,396 shares of the financial services provider’s stock worth $5,351,000 after acquiring an additional 21,828 shares during the last quarter. Institutional investors own 82.01% of the company’s stock.

Stifel Financial Stock Down 1.8%

Shares of Stifel Financial stock opened at $77.29 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $72.94 and its two-hundred day simple moving average is $77.02. The company has a market cap of $11.86 billion, a P/E ratio of 15.04 and a beta of 1.01. Stifel Financial Corporation has a 12-month low of $67.81 and a 12-month high of $89.83.

Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. Stifel Financial had a net margin of 15.34% and a return on equity of 18.76%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Research analysts anticipate that Stifel Financial Corporation will post 6.22 EPS for the current year.

Stifel Financial Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.8%. Stifel Financial’s payout ratio is currently 26.46%.

Analyst Ratings Changes

SF has been the subject of several recent analyst reports. Zacks Research raised shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. UBS Group restated a “buy” rating and set a $86.00 price target (down from $89.00) on shares of Stifel Financial in a report on Wednesday, July 8th. TD Cowen lowered their price target on Stifel Financial from $136.00 to $92.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stifel Financial in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.75.

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.