Allspring Global Investments Holdings LLC Boosts Stake in Stifel Financial Corporation $SF

Allspring Global Investments Holdings LLC grew its stake in Stifel Financial Corporation (NYSE:SF) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,351 shares of the financial services provider’s stock after acquiring an additional 8,951 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stifel Financial were worth $9,826,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Stifel Financial by 251.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,169 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 836 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Stifel Financial by 401.0% in the 1st quarter. GAMMA Investing LLC now owns 4,509 shares of the financial services provider’s stock valued at $425,000 after buying an additional 3,609 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stifel Financial by 263.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,711 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 14,284 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Stifel Financial by 15.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,118 shares of the financial services provider’s stock worth $294,000 after buying an additional 406 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Stifel Financial by 31.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,505 shares of the financial services provider’s stock worth $990,000 after acquiring an additional 2,505 shares in the last quarter. 82.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Stifel Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $121.00 price target on the stock. Wells Fargo & Company raised their price objective on Stifel Financial from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Zacks Research downgraded Stifel Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. JMP Securities increased their price target on Stifel Financial from $130.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Finally, Citigroup restated an “outperform” rating on shares of Stifel Financial in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Stifel Financial Price Performance

NYSE SF opened at $110.26 on Friday. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 21.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The stock’s fifty day moving average price is $113.23 and its 200 day moving average price is $102.85. Stifel Financial Corporation has a 1 year low of $73.27 and a 1 year high of $120.64.

Stifel Financial (NYSE:SF) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Stifel Financial’s dividend payout ratio (DPR) is 35.66%.

About Stifel Financial

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.