Stifel Financial Corp Has $2.25 Million Holdings in Spire Inc. (NYSE:SR)

Stifel Financial Corp trimmed its stake in shares of Spire Inc. (NYSE:SR) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,466 shares of the utilities provider’s stock after selling 2,933 shares during the period. Stifel Financial Corp’s holdings in Spire were worth $2,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SR. Captrust Financial Advisors bought a new stake in Spire in the 3rd quarter valued at approximately $39,228,000. AQR Capital Management LLC raised its holdings in shares of Spire by 290.9% in the second quarter. AQR Capital Management LLC now owns 130,827 shares of the utilities provider’s stock valued at $7,877,000 after purchasing an additional 97,358 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Spire by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 944,387 shares of the utilities provider’s stock worth $57,351,000 after purchasing an additional 72,119 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Spire by 11.0% in the second quarter. Victory Capital Management Inc. now owns 698,819 shares of the utilities provider’s stock worth $42,439,000 after purchasing an additional 69,020 shares in the last quarter. Finally, Cynosure Group LLC acquired a new position in Spire during the third quarter worth $4,067,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul D. Koonce purchased 1,000 shares of Spire stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the purchase, the director now directly owns 2,425 shares of the company’s stock, valued at $178,504.25. This trade represents a 70.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Adam W. Woodard sold 1,150 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the completion of the transaction, the treasurer now directly owns 2,587 shares in the company, valued at approximately $174,544.89. This represents a 30.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

Spire Stock Up 1.7 %

SR stock opened at $65.55 on Friday. Spire Inc. has a 1-year low of $56.36 and a 1-year high of $73.64. The business’s 50 day simple moving average is $67.42 and its 200 day simple moving average is $65.00. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.79 billion, a PE ratio of 15.21, a PEG ratio of 3.04 and a beta of 0.57.

Spire Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 11th will be issued a $3.14 dividend. This is an increase from Spire’s previous quarterly dividend of $0.76. This represents a $12.56 annualized dividend and a dividend yield of 19.16%. The ex-dividend date is Wednesday, December 11th. Spire’s payout ratio is currently 72.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SR shares. Morgan Stanley lowered their price target on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Bank of America began coverage on Spire in a report on Friday, December 13th. They set a “neutral” rating and a $70.00 target price on the stock. LADENBURG THALM/SH SH downgraded Spire from a “neutral” rating to a “sell” rating and decreased their price target for the company from $65.50 to $60.50 in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, StockNews.com cut shares of Spire from a “hold” rating to a “sell” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Spire presently has a consensus rating of “Hold” and a consensus price target of $70.28.

About Spire

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.