Louisiana State Employees Retirement System Cuts Stock Position in Stifel Financial Corp. (NYSE:SF)

Posted by Defense World Staff on Jul 4th, 2023

Louisiana State Employees Retirement System cut its holdings in Stifel Financial Corp. (NYSE:SF – Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,900 shares of the financial services provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Stifel Financial were worth $1,649,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in Stifel Financial in the first quarter worth $132,000. Park Avenue Securities LLC lifted its position in Stifel Financial by 39.1% in the first quarter. Park Avenue Securities LLC now owns 15,944 shares of the financial services provider’s stock worth $942,000 after buying an additional 4,479 shares during the last quarter. First Hawaiian Bank lifted its position in Stifel Financial by 1.8% in the first quarter. First Hawaiian Bank now owns 13,806 shares of the financial services provider’s stock worth $816,000 after buying an additional 246 shares during the last quarter. KCS Wealth Advisory bought a new stake in Stifel Financial in the first quarter worth $1,335,000. Finally, Ronald Blue Trust Inc. lifted its position in Stifel Financial by 46.4% in the first quarter. Ronald Blue Trust Inc. now owns 3,106 shares of the financial services provider’s stock worth $181,000 after buying an additional 984 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stifel Financial

In other Stifel Financial news, SVP Thomas B. Michaud sold 24,036 shares of Stifel Financial stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $58.85, for a total value of $1,414,518.60. Following the transaction, the senior vice president now owns 100,240 shares in the company, valued at $5,899,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stifel Financial news, SVP Thomas B. Michaud sold 24,036 shares of Stifel Financial stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $58.85, for a total value of $1,414,518.60. Following the transaction, the senior vice president now owns 100,240 shares in the company, valued at $5,899,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas B. Michaud sold 15,000 shares of Stifel Financial stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $57.75, for a total value of $866,250.00. Following the completion of the transaction, the senior vice president now owns 144,276 shares in the company, valued at approximately $8,331,939. The disclosure for this sale can be found here. 3.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SF. StockNews.com downgraded Stifel Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. JMP Securities decreased their target price on Stifel Financial from $95.00 to $91.00 and set a “market outperform” rating for the company in a research report on Monday, April 10th. Finally, Citigroup decreased their target price on Stifel Financial from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 11th.

Stifel Financial Stock Performance

SF stock opened at $60.18 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.83 and a quick ratio of 0.80. The business has a 50-day moving average price of $58.34 and a 200 day moving average price of $60.52. The company has a market capitalization of $6.39 billion, a P/E ratio of 11.55 and a beta of 1.25. Stifel Financial Corp. has a 1-year low of $49.31 and a 1-year high of $68.77.

Stifel Financial (NYSE:SF – Free Report) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.05). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Stifel Financial had a net margin of 14.24% and a return on equity of 15.28%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share.

Stifel Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $1.44 annualized dividend and a dividend yield of 2.39%. Stifel Financial’s payout ratio is currently 27.64%.

Stifel Financial Company Profile

(Free Report)

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, the United Kingdom, the rest of Europe, and Canada.