Gabelli Funds LLC Decreases Holdings in Jefferies Financial Group Inc. (NYSE:JEF)

Gabelli Funds LLC reduced its position in Jefferies Financial Group Inc. (NYSE:JEF) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 143,610 shares of the financial services provider’s stock after selling 3,500 shares during the period. Gabelli Funds LLC’s holdings in Jefferies Financial Group were worth $7,146,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Jefferies Financial Group during the 2nd quarter worth $25,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Jefferies Financial Group by 75.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 520 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 224 shares during the last quarter. Versant Capital Management Inc boosted its stake in Jefferies Financial Group by 1,993.8% in the 2nd quarter. Versant Capital Management Inc now owns 670 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 638 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Jefferies Financial Group during the 2nd quarter worth approximately $48,000. Finally, Daiwa Securities Group Inc. acquired a new position in Jefferies Financial Group during the 2nd quarter valued at approximately $80,000. 60.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JEF shares. Morgan Stanley lifted their price objective on shares of Jefferies Financial Group from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com cut Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Oppenheimer increased their price objective on Jefferies Financial Group from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, UBS Group began coverage on Jefferies Financial Group in a research note on Tuesday, September 17th. They issued a “buy” rating and a $67.00 price objective for the company.

Jefferies Financial Group Price Performance

NYSE:JEF opened at $62.07 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $57.26 and its 200-day moving average price is $49.75. Jefferies Financial Group Inc. has a 1-year low of $31.38 and a 1-year high of $62.98. The firm has a market capitalization of $12.75 billion, a P/E ratio of 34.29 and a beta of 1.32.

Jefferies Financial Group (NYSE:JEF) last released its quarterly earnings data on Wednesday, June 26th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Jefferies Financial Group had a return on equity of 5.37% and a net margin of 7.82%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was up 59.6% on a year-over-year basis. As a group, equities research analysts anticipate that Jefferies Financial Group Inc. will post 3.27 EPS for the current year.

Jefferies Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, August 19th. This is a positive change from Jefferies Financial Group’s previous quarterly dividend of $0.30. Jefferies Financial Group’s dividend payout ratio is currently 77.35%.

Insider Transactions at Jefferies Financial Group

In other news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the acquisition, the director now owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 20.40% of the company’s stock.

Jefferies Financial Group Profile

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.