Retirement Systems of Alabama Grows Stake in Stifel Financial Corporation $SF

Retirement Systems of Alabama increased its position in shares of Stifel Financial Corporation (NYSE:SF) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 292,803 shares of the financial services provider’s stock after purchasing an additional 1,201 shares during the quarter. Retirement Systems of Alabama’s holdings in Stifel Financial were worth $30,387,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of SF. AQR Capital Management LLC raised its stake in shares of Stifel Financial by 314.1% during the 1st quarter. AQR Capital Management LLC now owns 1,383,836 shares of the financial services provider’s stock worth $126,925,000 after buying an additional 1,049,665 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Stifel Financial by 529.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 398,633 shares of the financial services provider’s stock valued at $37,576,000 after acquiring an additional 335,257 shares in the last quarter. Nuveen LLC acquired a new position in Stifel Financial during the first quarter worth about $28,564,000. Vanguard Group Inc. raised its position in Stifel Financial by 2.1% during the first quarter. Vanguard Group Inc. now owns 10,620,407 shares of the financial services provider’s stock worth $1,001,080,000 after acquiring an additional 217,415 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Stifel Financial in the first quarter valued at about $9,594,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

Stifel Financial Stock Performance

Stifel Financial stock opened at $117.71 on Friday. The stock has a fifty day moving average price of $113.79 and a 200 day moving average price of $105.05. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.97. The firm has a market capitalization of $12.03 billion, a P/E ratio of 20.80 and a beta of 1.13. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28.

Stifel Financial (NYSE:SF) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. Stifel Financial had a return on equity of 15.06% and a net margin of 12.44%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 annualized dividend and a yield of 1.6%. Stifel Financial’s dividend payout ratio is 32.51%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SF shares. Wall Street Zen raised shares of Stifel Financial from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. TD Cowen upgraded Stifel Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $118.00 to $131.00 in a report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Stifel Financial in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their price objective on Stifel Financial from $125.00 to $133.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company increased their price objective on Stifel Financial from $102.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Stifel Financial currently has an average rating of “Moderate Buy” and a consensus price target of $125.90.

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.