Pitcairn Co. Increases Position in Stifel Financial Corporation (SF)
Pitcairn Co. boosted its stake in shares of Stifel Financial Corporation (NYSE:SF) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 8,138 shares of the financial services provider’s stock after buying an additional 154 shares during the period. Pitcairn Co.’s holdings in Stifel Financial Corporation were worth $374,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in SF. Quantbot Technologies LP purchased a new stake in Stifel Financial Corporation during the first quarter valued at approximately $190,000. World Asset Management Inc boosted its stake in Stifel Financial Corporation by 4.0% in the first quarter. World Asset Management Inc now owns 4,170 shares of the financial services provider’s stock valued at $209,000 after buying an additional 160 shares during the period. M&T Bank Corp purchased a new stake in Stifel Financial Corporation during the first quarter valued at approximately $209,000. Greenwood Capital Associates LLC purchased a new stake in Stifel Financial Corporation during the first quarter valued at approximately $219,000. Finally, LS Investment Advisors LLC boosted its stake in Stifel Financial Corporation by 1.8% in the first quarter. LS Investment Advisors LLC now owns 4,604 shares of the financial services provider’s stock valued at $231,000 after buying an additional 83 shares during the period. 85.81% of the stock is owned by institutional investors.
Stifel Financial Corporation (SF) opened at 50.35 on Wednesday. Stifel Financial Corporation has a 12-month low of $36.71 and a 12-month high of $56.62. The firm’s 50-day moving average price is $48.34 and its 200 day moving average price is $48.79. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 25.99 and a beta of 1.71.
Stifel Financial Corporation (NYSE:SF) last posted its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.14. The business had revenue of $725.60 million during the quarter, compared to the consensus estimate of $689.67 million. Stifel Financial Corporation had a return on equity of 9.30% and a net margin of 6.03%. Stifel Financial Corporation’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, analysts expect that Stifel Financial Corporation will post $3.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%.
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SF has been the topic of several recent research reports. TheStreet upgraded Stifel Financial Corporation from a “c+” rating to a “b” rating in a research report on Monday, July 31st. BidaskClub upgraded Stifel Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Stifel Financial Corporation from a “sell” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 3rd. Wells Fargo & Company restated a “market perform” rating and issued a $50.00 price target (down from $54.00) on shares of Stifel Financial Corporation in a research report on Monday, June 12th. Finally, Nomura restated a “neutral” rating on shares of Stifel Financial Corporation in a research report on Tuesday, May 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.33.
In related news, Director David A. Peacock acquired 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average cost of $50.03 per share, for a total transaction of $225,135.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick O. Hanser sold 4,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 33,255 shares of the company’s stock, valued at $1,662,750. The disclosure for this sale can be found here. Corporate insiders own 5.14% of the company’s stock.
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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