Allspring Global Investments Holdings LLC Grows Stake in Stifel Financial Corporation $SF

Allspring Global Investments Holdings LLC raised its stake in shares of Stifel Financial Corporation (NYSE:SF) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,351 shares of the financial services provider’s stock after purchasing an additional 8,951 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Stifel Financial worth $9,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SF. Alpine Bank Wealth Management bought a new position in shares of Stifel Financial during the 1st quarter valued at approximately $27,000. Allworth Financial LP boosted its stake in Stifel Financial by 67.7% during the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider’s stock worth $29,000 after buying an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Stifel Financial by 40.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 135 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Stifel Financial by 53.0% in the first quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 170 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Stifel Financial in the 1st quarter worth about $68,000. 82.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group set a $135.00 price target on shares of Stifel Financial in a report on Thursday, October 9th. Zacks Research cut Stifel Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Cowen upgraded Stifel Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on Stifel Financial from $102.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, JMP Securities upped their price objective on Stifel Financial from $130.00 to $135.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stifel Financial presently has an average rating of “Moderate Buy” and an average price target of $122.60.

Stifel Financial Stock Up 1.7%

Shares of NYSE:SF opened at $110.26 on Friday. The business’s 50 day moving average is $113.23 and its 200 day moving average is $102.85. The stock has a market cap of $11.27 billion, a P/E ratio of 21.37 and a beta of 1.13. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28.

Stifel Financial (NYSE:SF) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.06. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business earned $1.60 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.7%. Stifel Financial’s dividend payout ratio (DPR) is 35.66%.

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.