Parkside Financial Bank & Trust lessened its stake in shares of Stifel Financial Corp (NYSE:SF) by 27.1% in the 3rd quarter, Holdings Channel reports. The firm owned 75,369 shares of the financial services provider’s stock after selling 28,000 shares during the period. Stifel Financial accounts for 1.4% of Parkside Financial Bank & Trust’s investment portfolio, making the stock its 16th largest holding. Parkside Financial Bank & Trust’s holdings in Stifel Financial were worth $4,325,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new position in Stifel Financial in the second quarter valued at $42,459,000. Invesco Ltd. raised its position in Stifel Financial by 79.1% during the second quarter. Invesco Ltd. now owns 1,476,082 shares of the financial services provider’s stock worth $87,177,000 after acquiring an additional 651,701 shares during the last quarter. Prudential Financial Inc. raised its position in Stifel Financial by 70.5% during the second quarter. Prudential Financial Inc. now owns 1,198,061 shares of the financial services provider’s stock worth $70,758,000 after acquiring an additional 495,421 shares during the last quarter. APG Asset Management N.V. acquired a new position in Stifel Financial during the second quarter worth about $19,894,000. Finally, AGF Investments Inc. raised its position in Stifel Financial by 172.0% during the second quarter. AGF Investments Inc. now owns 190,414 shares of the financial services provider’s stock worth $11,246,000 after acquiring an additional 120,414 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
In related news, VP Mark P. Fisher sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $59.33, for a total transaction of $593,300.00. Following the completion of the transaction, the vice president now owns 24,911 shares of the company’s stock, valued at $1,477,969.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ben A. Plotkin sold 9,012 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $55.73, for a total transaction of $502,238.76. Following the transaction, the senior vice president now directly owns 97,728 shares of the company’s stock, valued at approximately $5,446,381.44. The disclosure for this sale can be found here. In the last three months, insiders sold 36,298 shares of company stock valued at $2,108,617. Company insiders own 3.77% of the company’s stock.
Stifel Financial (NYSE:SF) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $798.53 million. Stifel Financial had a net margin of 13.55% and a return on equity of 14.84%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, November 29th. Stifel Financial’s dividend payout ratio is presently 11.36%.
A number of equities analysts have recently weighed in on SF shares. Zacks Investment Research raised shares of Stifel Financial from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. ValuEngine lowered shares of Stifel Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $62.60.
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, the United Kingdom, rest of Europe, and Asia. The company operates through three segments: Global Wealth Management, Institutional Group, and Other.
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