Illinois Municipal Retirement Fund Boosts Stock Position in Stifel Financial Corporation $SF

Illinois Municipal Retirement Fund boosted its holdings in shares of Stifel Financial Corporation (NYSE:SF) by 65.1% during the first quarter, Holdings Channel.com reports. The firm owned 26,128 shares of the financial services provider’s stock after acquiring an additional 10,302 shares during the period. Illinois Municipal Retirement Fund’s holdings in Stifel Financial were worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Sanctuary Advisors LLC increased its holdings in shares of Stifel Financial by 60.8% in the 1st quarter. Sanctuary Advisors LLC now owns 15,410 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 5,825 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its holdings in shares of Stifel Financial by 55.9% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 4,739 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 1,699 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Stifel Financial by 50.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 6,958 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 2,319 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Stifel Financial in the first quarter worth about $1,001,000. Finally, State of Michigan Retirement System grew its position in Stifel Financial by 52.5% in the first quarter. State of Michigan Retirement System now owns 36,730 shares of the financial services provider’s stock worth $2,715,000 after acquiring an additional 12,643 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

Analysts Set New Price Targets

SF has been the topic of a number of recent research reports. TD Cowen decreased their price objective on Stifel Financial from $136.00 to $92.00 and set a “hold” rating on the stock in a research report on Monday, March 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Stifel Financial in a research report on Friday, May 29th. UBS Group restated a “buy” rating and set a $86.00 price target (down from $89.00) on shares of Stifel Financial in a report on Wednesday, July 8th. Finally, Zacks Research upgraded Stifel Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. 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, Stifel Financial has an average rating of “Moderate Buy” and an average price target of $91.75.

Stifel Financial Price Performance

SF opened at $77.40 on Tuesday. The business has a fifty day moving average of $73.00 and a 200 day moving average of $76.92. The stock has a market cap of $11.87 billion, a P/E ratio of 15.06 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Stifel Financial Corporation has a 52-week low of $67.81 and a 52-week high of $89.83.

Stifel Financial (NYSE:SF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.51 billion. Stifel Financial had a return on equity of 18.76% and a net margin of 15.34%.The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Stifel Financial Corporation will post 6.22 EPS for the current year.

Stifel Financial Cuts Dividend

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

Stifel Financial Company 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.