California Public Employees Retirement System increased its holdings in Stifel Financial Corp (NYSE:SF) by 37.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,667 shares of the financial services provider’s stock after purchasing an additional 49,942 shares during the period. California Public Employees Retirement System owned approximately 0.26% of Stifel Financial worth $10,481,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Northern Trust Corp boosted its holdings in Stifel Financial by 1.5% in the second quarter. Northern Trust Corp now owns 1,660,653 shares of the financial services provider’s stock worth $98,077,000 after purchasing an additional 24,677 shares in the last quarter. Earnest Partners LLC boosted its holdings in Stifel Financial by 2.2% during the second quarter. Earnest Partners LLC now owns 1,620,770 shares of the financial services provider’s stock valued at $95,723,000 after acquiring an additional 34,140 shares during the period. Invesco Ltd. boosted its holdings in Stifel Financial by 79.1% during the second quarter. Invesco Ltd. now owns 1,476,082 shares of the financial services provider’s stock valued at $87,177,000 after acquiring an additional 651,701 shares during the period. Prudential Financial Inc. boosted its holdings in Stifel Financial by 70.5% during the second quarter. Prudential Financial Inc. now owns 1,198,061 shares of the financial services provider’s stock valued at $70,758,000 after acquiring an additional 495,421 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in Stifel Financial during the second quarter valued at about $42,459,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
SF has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Stifel Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. ValuEngine cut shares of Stifel Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.60.
Stifel Financial (NYSE:SF) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. Stifel Financial had a net margin of 13.55% and a return on equity of 14.84%. The company had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $798.53 million. During the same period in the prior year, the company earned $1.35 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, November 29th. Stifel Financial’s dividend payout ratio is currently 11.36%.
In other news, Director John P. Dubinsky sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.71, for a total transaction of $82,065.00. Following the completion of the transaction, the director now owns 27,456 shares of the company’s stock, valued at $1,502,117.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard J. Himelfarb sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $60.75, for a total transaction of $607,500.00. Following the transaction, the senior vice president now directly owns 103,774 shares of the company’s stock, valued at approximately $6,304,270.50. The disclosure for this sale can be found here. Insiders have sold 36,298 shares of company stock valued at $2,108,617 in the last ninety days. 3.77% of the stock is owned by company insiders.
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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