News Summary
The Teacher Retirement System of Texas has boosted its investment in Stifel Financial Corporation by 125.5%, now holding 78,915 shares worth approximately $7.4 million. Other institutional investors are also increasing their stakes, with significant movements from FMR LLC and Wellington Management. Amid insider trading activity and varied analyst ratings, Stifel Financial is navigating a fluctuating stock performance, recently opening at $109.20.
Texas has seen a notable increase in investment from the Teacher Retirement System of Texas in Stifel Financial Corporation, raising its holdings by 125.5% in the first quarter of the year. This strategic move positions the Texas retirement system as an influential stakeholder, owning 78,915 shares valued at approximately $7,439,000, which accounts for about 0.08% of Stifel Financial’s total shares.
The growth in Stifel Financial shares for the Teacher Retirement System of Texas includes the acquisition of an additional 43,925 shares during this reporting period. This decision reflects an optimistic outlook on Stifel Financial’s future performance, aligning with other institutional investors adjusting their positions in the same timeframe.
In addition to Texas’ increased stake, FMR LLC expanded its holdings in Stifel Financial by 8.5%, now owning a significant 8,628,832 shares worth approximately $915,346,000. Wellington Management Group LLP has also seen a substantial increase of 32.2% in its holdings, now controlling 2,588,964 shares worth around $274,637,000. Notably, Norges Bank entered a new position in Stifel Financial during the same quarter, valued at about $137,448,000, further emphasizing the growing interest from institutional investors.
Other significant investments include Invesco Ltd., which increased its stake by 18.2% with holdings now at 1,207,465 shares valued at $128,088,000, and Northern Trust Corp, which raised its holdings by 14.8%, possessing 1,128,978 shares worth $119,762,000. Overall, institutional investors collectively own a substantial 82.01% of Stifel Financial’s stock, underscoring its attractiveness in the marketplace.
On the corporate governance front, Director Michael J. Zimmerman recently sold 10,000 shares at an average price of $96.69, totaling $966,900. Following this transaction, he retains 45,833 shares valued at approximately $4,431,592.77, reflecting a 17.91% decrease in his overall ownership percentage.
Stifel Financial has also received mixed responses from financial analysts. Wolfe Research upgraded the company’s rating to “outperform” with a target price of $108.00, while Citigroup and JPMorgan Chase adjusted their target prices downward to $105.00 and $100.00 respectively, both maintaining a “neutral” rating. Additionally, Wells Fargo and Goldman Sachs have adjusted their targets to reflect current market conditions, indicating a consensus rating among analysts of “Hold” with an average target price of $105.50.
As of Friday, Stifel Financial’s stock opened at $109.20, with a 52-week low of $73.27 and a high of $120.64. The company’s current market capitalization stands at approximately $11.22 billion, with a P/E ratio of 20.88 and a beta of 1.09. The financial health indicators reveal a debt-to-equity ratio of 0.28, a quick ratio of 0.77, and a current ratio of 0.81, providing insights into its operational efficiency.
In the latest quarterly report, Stifel Financial reported earnings per share (EPS) of $0.49, which fell short of analysts’ expectations of $1.64 by a significant margin. The company’s revenue for the quarter was approximately $1.26 billion, lower than the consensus estimate of $1.32 billion, but representing a year-over-year increase of 7.9%. Stifel Financial announced a quarterly dividend of $0.46 per share, resulting in an annualized dividend yield of 1.68%, with an ex-dividend date of June 2nd. The current payout ratio stands at 35.18%, indicating a balanced approach to dividends amid growth investment strategies.
Stifel Financial operates across three primary segments: Global Wealth Management, Institutional Group, and Other. The shifts in shareholdings and strategic forecasts highlight a dynamic landscape for institutional investors and underscore ongoing interest in the company’s long-term growth potential.
Deeper Dive: News & Info About This Topic
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