Allspring Global Investments Holdings LLC Grows Stock Position in Stifel Financial Corporation (NYSE:SF)

Allspring Global Investments Holdings LLC raised its stake in shares of Stifel Financial Corporation (NYSE:SF) by 11.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 84,400 shares of the financial services provider’s stock after buying an additional 8,405 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Stifel Financial worth $8,001,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SF. NBC Securities Inc. purchased a new position in shares of Stifel Financial during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in shares of Stifel Financial in the 1st quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Stifel Financial by 123.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 183 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Stifel Financial by 52.1% in the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 110 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Stifel Financial in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Stifel Financial from $121.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Citigroup cut their price target on Stifel Financial from $125.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. TD Cowen cut their price target on Stifel Financial from $124.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price target on Stifel Financial from $106.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective on Stifel Financial from $123.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Stifel Financial currently has a consensus rating of “Hold” and an average target price of $105.50.

Insider Buying and Selling at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the transaction, the director directly owned 45,833 shares in the company, valued at $4,431,592.77. The trade was a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Stifel Financial Price Performance

NYSE:SF opened at $109.20 on Friday. The firm has a market cap of $11.22 billion, a P/E ratio of 20.88 and a beta of 1.09. The stock has a 50 day moving average of $96.22 and a two-hundred day moving average of $99.45. Stifel Financial Corporation has a 12 month low of $73.27 and a 12 month high of $120.64. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28.

Stifel Financial (NYSE:SF) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($1.15). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share. On average, analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, June 2nd. Stifel Financial’s dividend payout ratio is currently 35.18%.

About Stifel Financial

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.