Bridgewater Associates LP Sells 2,655 Shares of Jefferies Financial Group Inc. (NYSE:JEF)

Bridgewater Associates LP decreased its position in shares of Jefferies Financial Group Inc. (NYSE:JEF) by 3.6% during the second quarter, HoldingsChannel reports. The fund owned 72,125 shares of the financial services provider’s stock after selling 2,655 shares during the quarter. Bridgewater Associates LP’s holdings in Jefferies Financial Group were worth $2,467,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Jefferies Financial Group by 6.8% in the second quarter. Geode Capital Management LLC now owns 3,345,445 shares of the financial services provider’s stock worth $114,414,000 after purchasing an additional 213,613 shares during the last quarter. Vanguard Group Inc. lifted its stake in Jefferies Financial Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 22,882,583 shares of the financial services provider’s stock worth $782,584,000 after acquiring an additional 268,227 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Jefferies Financial Group in the second quarter worth about $6,706,000. Seven Eight Capital LP purchased a new stake in Jefferies Financial Group in the second quarter worth about $1,863,000. Finally, ProShare Advisors LLC lifted its stake in Jefferies Financial Group by 98.9% in the second quarter. ProShare Advisors LLC now owns 32,282 shares of the financial services provider’s stock worth $1,104,000 after acquiring an additional 16,053 shares during the period. Institutional investors and hedge funds own 68.38% of the company’s stock.

In other news, Chairman Joseph S. Steinberg sold 97,033 shares of the stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $35.05, for a total transaction of $3,401,006.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Melissa Weiler bought 4,000 shares of the firm’s stock in a transaction dated Monday, July 19th. The shares were acquired at an average price of $32.00 per share, for a total transaction of $128,000.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $128,000. The disclosure for this purchase can be found here. 17.10% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on JEF. Zacks Investment Research raised shares of Jefferies Financial Group from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, September 30th. Oppenheimer increased their price target on shares of Jefferies Financial Group from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, October 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Jefferies Financial Group in a research report on Monday, September 20th. They set a “buy” rating and a $45.00 price target for the company.

Shares of Jefferies Financial Group stock opened at $40.56 on Thursday. The firm has a market capitalization of $10.02 billion, a P/E ratio of 7.23 and a beta of 1.49. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average price of $36.76 and a 200 day moving average price of $33.76. Jefferies Financial Group Inc. has a 52 week low of $18.78 and a 52 week high of $40.94.

Jefferies Financial Group (NYSE:JEF) last announced its quarterly earnings data on Wednesday, September 29th. The financial services provider reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.51. Jefferies Financial Group had a net margin of 19.62% and a return on equity of 16.08%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm posted $1.07 EPS. Jefferies Financial Group’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts anticipate that Jefferies Financial Group Inc. will post 4.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 29th. Investors of record on Monday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.47%. Jefferies Financial Group’s dividend payout ratio (DPR) is presently 37.74%.

Jefferies Financial Group Company Profile

Jefferies Financial Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Investment Banking, Capital Markets, and Asset Management; Merchant Banking; and Corporate segments. The Investment Banking, Capital Markets, and Asset Management segment consists of investments in Jefferies Group.

Further Reading: Death Cross

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Institutional Ownership by Quarter for Jefferies Financial Group (NYSE:JEF)

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