Royal Bank of Canada lessened its position in shares of Jefferies Financial Group Inc. (NYSE:JEF – Free Report) by 56.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,784 shares of the financial services provider’s stock after selling 76,085 shares during the period. Royal Bank of Canada’s holdings in Jefferies Financial Group were worth $2,466,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC lifted its position in shares of Jefferies Financial Group by 75.0% during the 4th quarter. Salomon & Ludwin LLC now owns 413 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 177 shares during the last quarter. Smithfield Trust Co purchased a new position in Jefferies Financial Group in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in Jefferies Financial Group in the fourth quarter valued at $28,000. Ramirez Asset Management Inc. purchased a new stake in Jefferies Financial Group during the 4th quarter worth about $31,000. Finally, First Horizon Corp lifted its holdings in Jefferies Financial Group by 68.1% during the 4th quarter. First Horizon Corp now owns 622 shares of the financial services provider’s stock worth $39,000 after buying an additional 252 shares during the last quarter. 60.88% of the stock is owned by hedge funds and other institutional investors.
Jefferies Financial Group Stock Performance
Shares of JEF stock opened at $55.14 on Monday. The stock’s 50-day moving average is $55.94 and its two-hundred day moving average is $51.22. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.98 and a current ratio of 0.98. Jefferies Financial Group Inc. has a 1 year low of $35.53 and a 1 year high of $71.04. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 15.40 and a beta of 1.54.
Jefferies Financial Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. Jefferies Financial Group’s payout ratio is currently 44.69%.
Jefferies Financial Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
JEF has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Jefferies Financial Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Oppenheimer decreased their target price on Jefferies Financial Group from $87.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Jefferies Financial Group in a report on Friday, June 5th. BMO Capital Markets increased their price target on shares of 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. Finally, Morgan Stanley raised their price objective on shares of Jefferies Financial Group from $44.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.62.
Check Out Our Latest Stock Analysis on JEF
Jefferies Financial Group Profile
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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