Pinebridge Investments L.P. Acquires Shares of 83,308 Jefferies Financial Group Inc (JEF)
Pinebridge Investments L.P. acquired a new stake in Jefferies Financial Group Inc (NYSE:JEF) in the second quarter, Holdings Channel reports. The fund acquired 83,308 shares of the financial services provider’s stock, valued at approximately $1,895,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of JEF. Victory Capital Management Inc. acquired a new position in Jefferies Financial Group during the 2nd quarter worth $108,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Jefferies Financial Group during the 2nd quarter worth $109,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Jefferies Financial Group during the 2nd quarter worth $112,000. Smithfield Trust Co. acquired a new position in Jefferies Financial Group during the 2nd quarter worth $114,000. Finally, Bessemer Group Inc. acquired a new position in Jefferies Financial Group during the 2nd quarter worth $118,000. 74.19% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on JEF shares. ValuEngine raised Jefferies Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised Jefferies Financial Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Finally, Keefe, Bruyette & Woods started coverage on Jefferies Financial Group in a research note on Monday, August 20th. They set an “outperform” rating and a $29.00 target price for the company.
Jefferies Financial Group (NYSE:JEF) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.15. The business had revenue of $911.15 million during the quarter, compared to analysts’ expectations of $789.70 million. Jefferies Financial Group had a return on equity of 4.52% and a net margin of 7.60%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. research analysts forecast that Jefferies Financial Group Inc will post 1.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 17th will be given a dividend of $0.125 per share. This is a boost from Jefferies Financial Group’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, September 14th. Jefferies Financial Group’s dividend payout ratio is currently 24.24%.
About Jefferies Financial Group
Jefferies Financial Group Inc, a financial services company, offers a range of products and services in investment banking, equities, fixed income, and wealth management in the Americas, Europe, and Asia. It engages in the debt capital market, equity capital market, merger and acquisition, private capital advisory, and restructuring and recapitalization businesses.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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