QRG Capital Management Inc. Reduces Holdings in Stifel Financial Corporation $SF

QRG Capital Management Inc. trimmed its stake in Stifel Financial Corporation (NYSE:SF) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,672 shares of the financial services provider’s stock after selling 360 shares during the period. QRG Capital Management Inc.’s holdings in Stifel Financial were worth $1,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SF. NBC Securities Inc. purchased a new position in shares of Stifel Financial in the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in Stifel Financial during the 1st quarter worth $27,000. Allworth Financial LP grew its position in Stifel Financial by 67.7% during the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Bessemer Group Inc. grew its position in Stifel Financial by 53.0% during the 1st quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 170 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Stifel Financial by 40.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 135 shares during the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Stifel Financial Stock Down 2.0%

Shares of NYSE SF opened at $110.95 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The firm has a 50-day moving average price of $113.56 and a 200 day moving average price of $102.15. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 21.50 and a beta of 1.13.

Stifel Financial (NYSE:SF) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $1.60 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current fiscal year.

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.46 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.84 annualized dividend and a dividend yield of 1.7%. Stifel Financial’s dividend payout ratio (DPR) is 35.66%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Stifel Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $121.00 price objective on the stock. Citigroup raised shares of Stifel Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Wall Street Zen raised shares of Stifel Financial from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Zacks Research cut shares of Stifel Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Stifel Nicolaus set a $135.00 target price on shares of Stifel Financial in a research note on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.30.

About Stifel Financial

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 and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other.