State of New Jersey Common Pension Fund D Trims Stake in Stifel Financial Corp. (NYSE:SF)

State of New Jersey Common Pension Fund D lowered its holdings in Stifel Financial Corp. (NYSE:SF) by 38.7% during the second quarter, Holdings Channel.com reports. The firm owned 32,387 shares of the financial services provider’s stock after selling 20,463 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Stifel Financial were worth $2,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SageView Advisory Group LLC purchased a new stake in Stifel Financial in the first quarter valued at $1,251,000. SG Americas Securities LLC acquired a new stake in shares of Stifel Financial in the second quarter valued at $1,543,000. Quadrature Capital Ltd acquired a new stake in shares of Stifel Financial in the fourth quarter valued at $649,000. Van ECK Associates Corp grew its stake in shares of Stifel Financial by 36.5% in the first quarter. Van ECK Associates Corp now owns 35,083 shares of the financial services provider’s stock valued at $2,742,000 after buying an additional 9,384 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Stifel Financial by 268.6% in the second quarter. Blue Trust Inc. now owns 8,798 shares of the financial services provider’s stock valued at $688,000 after buying an additional 6,411 shares in the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Analysts Set New Price Targets

SF has been the subject of a number of research reports. TD Cowen lifted their price objective on Stifel Financial from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on Stifel Financial in a research note on Thursday, September 12th. They issued an “overweight” rating and a $101.00 price objective for the company. Wolfe Research cut Stifel Financial from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 price objective on shares of Stifel Financial in a research note on Monday, September 9th. Finally, StockNews.com raised Stifel Financial from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.40.

Stifel Financial Trading Up 0.4 %

SF opened at $89.97 on Thursday. Stifel Financial Corp. has a 12 month low of $54.81 and a 12 month high of $90.91. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 20.45 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.80. The business has a fifty day moving average price of $84.82 and a 200 day moving average price of $81.00.

Stifel Financial (NYSE:SF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Stifel Financial had a return on equity of 13.24% and a net margin of 11.59%. Stifel Financial’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Sell-side analysts expect that Stifel Financial Corp. will post 6.55 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.68 annualized dividend and a dividend yield of 1.87%. Stifel Financial’s dividend payout ratio is currently 38.18%.

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