SummitTX Capital L.P. Takes $1.19 Million Position in Jefferies Financial Group Inc. $JEF

SummitTX Capital L.P. bought a new stake in Jefferies Financial Group Inc. (NYSE:JEF) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,767 shares of the financial services provider’s stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC raised its position in Jefferies Financial Group by 75.0% during the fourth quarter. Salomon & Ludwin LLC now owns 413 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 177 shares during the last quarter. Smithfield Trust Co purchased a new stake in Jefferies Financial Group in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in Jefferies Financial Group in the 4th quarter valued at $28,000. Nvwm LLC purchased a new position in shares of Jefferies Financial Group during the 4th quarter worth $31,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Jefferies Financial Group during the fourth quarter worth $31,000. Institutional investors and hedge funds own 60.88% of the company’s stock.

Jefferies Financial Group Price Performance

Shares of NYSE JEF opened at $55.08 on Thursday. The business has a 50-day moving average of $55.34 and a 200-day moving average of $51.82. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.54. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.98 and a quick ratio of 0.98. Jefferies Financial Group Inc. has a 1-year low of $35.53 and a 1-year high of $71.04.

Jefferies Financial Group (NYSE:JEF) last issued its quarterly earnings data on Wednesday, June 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.14). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.30 billion. Jefferies Financial Group had a net margin of 7.58% and a return on equity of 9.23%. The firm’s revenue was up 35.0% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. On average, equities analysts anticipate that Jefferies Financial Group Inc. will post 3.71 EPS for the current fiscal year.

Jefferies Financial Group declared that its board has approved a share buyback plan on Wednesday, June 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Jefferies Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. Jefferies Financial Group’s dividend payout ratio is currently 44.69%.

Wall Street Analysts Forecast Growth

JEF has been the subject of a number of recent analyst reports. Loop Capital set a $60.00 price objective on Jefferies Financial Group in a research report on Monday, June 8th. Zacks Research raised shares of Jefferies Financial Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Jefferies Financial Group in a report on Friday, June 5th. Oppenheimer lowered their target price on shares of Jefferies Financial Group from $87.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Finally, Weiss Ratings lowered shares of Jefferies Financial Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.62.

Jefferies Financial Group Company Profile

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.