California Public Employees Retirement System Increases Holdings in Stifel Financial Corp. (NYSE:SF)

Posted by Defense World Staff on Feb 15th, 2023

California Public Employees Retirement System increased its stake in Stifel Financial Corp. (NYSE:SF – Get Rating) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 243,606 shares of the financial services provider’s stock after purchasing an additional 29,504 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Stifel Financial worth $12,646,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SF. Prudential Financial Inc. grew its position in shares of Stifel Financial by 77.6% in the first quarter. Prudential Financial Inc. now owns 901,715 shares of the financial services provider’s stock valued at $61,227,000 after purchasing an additional 393,943 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Stifel Financial during the first quarter valued at $22,204,000. Vanguard Group Inc. boosted its stake in Stifel Financial by 2.8% during the first quarter. Vanguard Group Inc. now owns 9,984,230 shares of the financial services provider’s stock valued at $677,930,000 after buying an additional 268,395 shares during the period. Goldman Sachs Group Inc. boosted its stake in Stifel Financial by 13.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,559,875 shares of the financial services provider’s stock valued at $87,384,000 after buying an additional 185,971 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Stifel Financial by 22.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 699,146 shares of the financial services provider’s stock valued at $47,472,000 after buying an additional 130,289 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Stifel Financial Trading Down 0.5 %

Shares of SF stock opened at $67.12 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $61.98 and a two-hundred day moving average price of $60.54. Stifel Financial Corp. has a 12-month low of $49.31 and a 12-month high of $79.63. The firm has a market cap of $7.13 billion, a P/E ratio of 12.62 and a beta of 1.29.

Stifel Financial (NYSE:SF – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.06). Stifel Financial had a return on equity of 16.01% and a net margin of 15.08%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $2.23 EPS. The company’s revenue for the quarter was down 14.0% on a year-over-year basis.

Stifel Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, February 28th. This is a positive change from Stifel Financial’s previous quarterly dividend of $0.30. Stifel Financial’s payout ratio is 27.07%.

Wall Street Analyst Weigh In

SF has been the subject of several research analyst reports. UBS Group initiated coverage on Stifel Financial in a research note on Tuesday, November 22nd. They set a “neutral” rating for the company. JMP Securities dropped their price objective on Stifel Financial from $98.00 to $95.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 10th.

Stifel Financial Company Profile

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Stifel Financial Corp. provides securities brokerage, investment banking, trading, investment advisory, and related financial services. It operates through the following segments: Global Wealth Management, Institutional Group, and Other. The Global Wealth Management segment provides securities transaction, brokerage, and investment services to clients.