SummitTX Capital L.P. acquired a new stake in Jefferies Financial Group Inc. (NYSE:JEF – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 28,767 shares of the financial services provider’s stock, valued at approximately $1,187,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of JEF. Intech Investment Management LLC lifted its stake in Jefferies Financial Group by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 132,263 shares of the financial services provider’s stock worth $8,196,000 after purchasing an additional 64,682 shares during the last quarter. Check Capital Management Inc. CA acquired a new position in Jefferies Financial Group in the fourth quarter worth $28,041,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Jefferies Financial Group during the first quarter valued at $2,941,000. Altfest L J & Co. Inc. bought a new stake in Jefferies Financial Group during the fourth quarter valued at $1,895,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Jefferies Financial Group during the first quarter worth $897,000. Institutional investors and hedge funds own 60.88% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on JEF shares. Zacks Research raised shares of Jefferies Financial Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Oppenheimer cut their target price on shares of Jefferies Financial Group from $87.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. BMO Capital Markets lifted their target price on Jefferies Financial Group from $42.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, June 8th. Loop Capital set a $60.00 target price on Jefferies Financial Group in a report on Monday, June 8th. Finally, Weiss Ratings cut Jefferies Financial Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.62.
Jefferies Financial Group Trading Down 3.8%
Jefferies Financial Group stock opened at $55.08 on Thursday. Jefferies Financial Group Inc. has a 52-week low of $35.53 and a 52-week high of $71.04. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.54. The firm has a 50-day moving average price of $55.34 and a two-hundred day moving average price of $51.82.
Jefferies Financial Group (NYSE:JEF – Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.14). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.30 billion. Jefferies Financial Group had a net margin of 7.58% and a return on equity of 9.23%. Jefferies Financial Group’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Sell-side analysts expect that Jefferies Financial Group Inc. will post 3.71 earnings per share for the current year.
Jefferies Financial Group declared that its Board of Directors has initiated a share buyback program on Wednesday, June 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to buy up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
Jefferies Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Jefferies Financial Group’s dividend payout ratio is 44.69%.
About Jefferies Financial Group
Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.
In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.
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