State of Michigan Retirement System Acquires 12,643 Shares of Stifel Financial Corporation $SF

State of Michigan Retirement System lifted its holdings in shares of Stifel Financial Corporation (NYSE:SF) by 52.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,730 shares of the financial services provider’s stock after purchasing an additional 12,643 shares during the quarter. State of Michigan Retirement System’s holdings in Stifel Financial were worth $2,715,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in Stifel Financial in the third quarter valued at approximately $29,000. Activest Wealth Management grew its stake in Stifel Financial by 12,000.0% in the 4th quarter. Activest Wealth Management now owns 242 shares of the financial services provider’s stock worth $30,000 after buying an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Stifel Financial in the 4th quarter worth approximately $34,000. Cullen Frost Bankers Inc. bought a new position in shares of Stifel Financial in the 4th quarter worth $50,000. Finally, BOKF NA increased its holdings in shares of Stifel Financial by 1,626.9% in the 3rd quarter. BOKF NA now owns 449 shares of the financial services provider’s stock worth $51,000 after buying an additional 423 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. TD Cowen reduced their target price on Stifel Financial from $136.00 to $92.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. UBS Group restated a “buy” rating and set a $86.00 price target (down from $89.00) on shares of Stifel Financial in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stifel Financial has an average rating of “Moderate Buy” and a consensus target price of $91.75.

Stifel Financial Trading Down 1.8%

SF stock opened at $77.29 on Friday. The company has a market capitalization of $11.86 billion, a PE ratio of 15.04 and a beta of 1.01. Stifel Financial Corporation has a one year low of $67.81 and a one year high of $89.83. The company’s 50 day moving average price is $72.94 and its two-hundred day moving average price is $77.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85.

Stifel Financial (NYSE:SF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Stifel Financial had a net margin of 15.34% and a return on equity of 18.76%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that Stifel Financial Corporation will post 6.22 earnings per share for the current fiscal year.

Stifel Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.36 annualized dividend and a yield of 1.8%. Stifel Financial’s payout ratio is currently 26.46%.

Stifel Financial Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.