Millennium Management LLC Has $46.33 Million Stock Position in Stifel Financial Corp. (NYSE:SF)

Millennium Management LLC lowered its holdings in Stifel Financial Corp. (NYSE:SF) by 58.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 550,571 shares of the financial services provider’s stock after selling 765,248 shares during the quarter. Millennium Management LLC owned 0.54% of Stifel Financial worth $46,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SF. Vanguard Group Inc. grew its holdings in shares of Stifel Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,461,734 shares of the financial services provider’s stock worth $817,794,000 after purchasing an additional 391,384 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Stifel Financial by 929.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 296,574 shares of the financial services provider’s stock valued at $24,957,000 after purchasing an additional 267,777 shares during the last quarter. Earnest Partners LLC raised its position in Stifel Financial by 7.0% in the 1st quarter. Earnest Partners LLC now owns 2,932,059 shares of the financial services provider’s stock valued at $229,199,000 after purchasing an additional 191,896 shares during the last quarter. Principal Financial Group Inc. raised its position in Stifel Financial by 12.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,332,258 shares of the financial services provider’s stock valued at $104,143,000 after purchasing an additional 151,046 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Stifel Financial during the second quarter valued at $7,415,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

Wall Street Analyst Weigh In

SF has been the topic of several recent research reports. TD Cowen raised their price target on Stifel Financial from $85.00 to $88.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised their price target on Stifel Financial from $85.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wolfe Research cut Stifel Financial from an “outperform” rating to a “peer perform” rating in a report on Monday, July 22nd. Citigroup raised their price target on Stifel Financial from $90.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, StockNews.com cut Stifel Financial from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.67.

Stifel Financial Price Performance

Shares of SF opened at $93.40 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. Stifel Financial Corp. has a 1 year low of $54.81 and a 1 year high of $94.18. The stock has a market cap of $9.57 billion, a P/E ratio of 21.23 and a beta of 1.09. The stock’s 50-day moving average price is $86.28 and its two-hundred day moving average price is $82.06.

Stifel Financial (NYSE:SF) last issued its 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. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Stifel Financial had a return on equity of 13.24% and a net margin of 11.59%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. On average, equities analysts predict that Stifel Financial Corp. will post 6.55 earnings per share for the current year.

Stifel Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. Stifel Financial’s dividend payout ratio is currently 38.18%.

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.