Stifel Financial Corp. (NYSE:SF) Stock Position Reduced by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of Stifel Financial Corp. (NYSE:SF - Free Report) by 58.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 550,571 shares of the financial services provider's stock after selling 765,248 shares during the period. Millennium Management LLC owned 0.54% of Stifel Financial worth $46,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc grew its position in Stifel Financial by 1,818.8% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the financial services provider's stock valued at $26,000 after buying an additional 291 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Stifel Financial in the 1st quarter worth approximately $32,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Stifel Financial in the first quarter valued at approximately $33,000. Bessemer Group Inc. increased its stake in shares of Stifel Financial by 388.3% during the first quarter. Bessemer Group Inc. now owns 796 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 633 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Stifel Financial during the second quarter worth approximately $64,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on SF shares. Citigroup increased their price target on Stifel Financial from $90.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. JMP Securities reaffirmed a "market outperform" rating and set a $105.00 target price on shares of Stifel Financial in a research note on Monday, September 9th. Wolfe Research cut shares of Stifel Financial from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 22nd. TD Cowen raised their price objective on shares of Stifel Financial from $85.00 to $88.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company began coverage on shares of Stifel Financial in a report on Thursday, September 12th. They issued an "overweight" rating and a $101.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $94.67.

Stifel Financial Trading Up 1.1 %

SF traded up $1.01 during trading on Wednesday, reaching $94.41. The company had a trading volume of 311,588 shares, compared to its average volume of 564,221. The firm's 50-day simple moving average is $86.50 and its 200 day simple moving average is $82.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 0.84. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 21.40 and a beta of 1.09. Stifel Financial Corp. has a 12-month low of $54.81 and a 12-month high of $94.56.

Stifel Financial (NYSE:SF - Get Free Report) last released its earnings results on Wednesday, July 24th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Stifel Financial had a net margin of 11.59% and a return on equity of 13.24%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that Stifel Financial Corp. will post 6.55 earnings per share for the current year.

Stifel Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Stifel Financial's dividend payout ratio (DPR) 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.