State of Michigan Retirement System Lowers Holdings in Stifel Financial Corp. (NYSE:SF)

State of Michigan Retirement System lowered its holdings in Stifel Financial Corp. (NYSE:SF) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,687 shares of the financial services provider’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Stifel Financial were worth $2,077,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. SageView Advisory Group LLC acquired a new position in shares of Stifel Financial in the 1st quarter worth approximately $1,251,000. SG Americas Securities LLC acquired a new position in Stifel Financial during the second quarter worth $1,543,000. Quadrature Capital Ltd purchased a new position in shares of Stifel Financial during the fourth quarter worth $649,000. Van ECK Associates Corp grew its stake in shares of Stifel Financial by 36.5% in the first quarter. Van ECK Associates Corp now owns 35,083 shares of the financial services provider’s stock valued at $2,742,000 after buying an additional 9,384 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Stifel Financial by 268.6% in the 2nd quarter. Blue Trust Inc. now owns 8,798 shares of the financial services provider’s stock valued at $688,000 after buying an additional 6,411 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

Stifel Financial Stock Performance

Shares of SF opened at $86.68 on Thursday. The stock has a 50-day simple moving average of $83.61 and a 200-day simple moving average of $79.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 0.84. Stifel Financial Corp. has a 1 year low of $54.81 and a 1 year high of $90.00. The stock has a market capitalization of $8.88 billion, a PE ratio of 19.70 and a beta of 1.11.

Stifel Financial (NYSE:SF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. Stifel Financial had a net margin of 11.59% and a return on equity of 13.24%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts predict that Stifel Financial Corp. will post 6.55 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, September 3rd. Stifel Financial’s dividend payout ratio (DPR) is 38.18%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wolfe Research cut Stifel Financial from an “outperform” rating to a “peer perform” rating in a report on Monday, July 22nd. TD Cowen lifted their price objective on shares of Stifel Financial from $85.00 to $88.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Stifel Financial from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.50.

Stifel Financial Profile

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.