241,582 Shares in Stifel Financial Corporation $SF Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Stifel Financial Corporation (NYSE:SF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 241,582 shares of the financial services provider’s stock, valued at approximately $16,855,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Stifel Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Stifel Financial during the second quarter worth $245,000. Pinnacle Holdings LLC acquired a new stake in Stifel Financial in the second quarter valued at $47,000. Bank of Nova Scotia purchased a new position in shares of Stifel Financial in the second quarter valued at $36,267,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Stifel Financial during the 2nd quarter worth $269,000. Finally, Commerce Bank acquired a new position in shares of Stifel Financial during the 2nd quarter worth $1,460,000. 82.01% of the stock is owned by institutional investors and hedge funds.

Stifel Financial Stock Down 1.3%

Shares of NYSE:SF opened at $79.72 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $12.04 billion, a P/E ratio of 14.27 and a beta of 0.99. Stifel Financial Corporation has a 52-week low of $67.81 and a 52-week high of $89.83. The stock’s fifty day simple moving average is $78.46 and its 200-day simple moving average is $76.37.

Stifel Financial (NYSE:SF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%.The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $1.71 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Stifel Financial Corporation will post 6.36 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Stifel Financial’s payout ratio is currently 24.33%.

Analyst Ratings Changes

SF has been the topic of several recent research reports. UBS Group set a $90.00 price objective on shares of Stifel Financial in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Stifel Financial from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stifel Financial in a research report on Friday, May 29th. Finally, Wall Street Zen cut shares of Stifel Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.90.

Insider Buying and Selling at Stifel Financial

In related news, Director Maryam S. Brown sold 4,700 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total transaction of $372,240.00. Following the transaction, the director owned 5,729 shares of the company’s stock, valued at approximately $453,736.80. This represents a 45.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.36% of the stock is currently owned by corporate insiders.

About Stifel Financial

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.