JPMorgan Chase & Co. Cuts Holdings in Stifel Financial Corp. (NYSE:SF)

JPMorgan Chase & Co. lowered its holdings in Stifel Financial Corp. (NYSE:SF - Free Report) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,920 shares of the financial services provider's stock after selling 48,713 shares during the period. JPMorgan Chase & Co. owned about 0.20% of Stifel Financial worth $19,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Stifel Financial by 18.8% during the 3rd quarter. FMR LLC now owns 7,956,412 shares of the financial services provider's stock worth $747,107,000 after purchasing an additional 1,256,595 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Stifel Financial by 78.3% in the third quarter. Wellington Management Group LLP now owns 1,958,709 shares of the financial services provider's stock valued at $183,923,000 after buying an additional 860,465 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Stifel Financial during the 3rd quarter worth approximately $12,290,000. Renaissance Technologies LLC bought a new stake in Stifel Financial in the 2nd quarter valued at $7,415,000. Finally, Fisher Asset Management LLC boosted its position in Stifel Financial by 4.7% during the third quarter. Fisher Asset Management LLC now owns 1,464,421 shares of the financial services provider's stock worth $137,509,000 after purchasing an additional 65,113 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stifel Financial

In related news, COO David D. Sliney sold 25,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $116.18, for a total value of $2,904,500.00. Following the transaction, the chief operating officer now owns 159,619 shares of the company's stock, valued at approximately $18,544,535.42. This trade represents a 13.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. began coverage on Stifel Financial in a report on Tuesday, December 10th. They set a "neutral" rating and a $120.00 price objective for the company. JMP Securities increased their price objective on Stifel Financial from $105.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 9th. Citigroup boosted their target price on shares of Stifel Financial from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group raised their price target on shares of Stifel Financial from $85.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Stifel Financial from $113.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $107.43.

Stifel Financial Trading Down 4.0 %

SF traded down $4.38 during trading on Friday, hitting $104.14. The company's stock had a trading volume of 784,601 shares, compared to its average volume of 625,133. The firm has a market capitalization of $10.66 billion, a P/E ratio of 18.83 and a beta of 1.11. Stifel Financial Corp. has a twelve month low of $68.09 and a twelve month high of $119.12. The stock's fifty day moving average price is $110.80 and its 200-day moving average price is $96.43. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Stifel Financial (NYSE:SF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.10). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Stifel Financial had a net margin of 12.98% and a return on equity of 14.92%. The firm's revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Analysts anticipate that Stifel Financial Corp. will post 6.5 EPS for the current year.

Stifel Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, December 2nd. Stifel Financial's payout ratio is 30.38%.

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.