The Manufacturers Life Insurance Company acquired a new stake in shares of Jefferies Financial Group Inc. (NYSE:JEF – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 144,741 shares of the financial services provider’s stock, valued at approximately $7,234,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Jefferies Financial Group at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in JEF. BlackRock Inc. purchased a new stake in shares of Jefferies Financial Group during the second quarter valued at about $834,947,000. Alyeska Investment Group L.P. grew its position in shares of Jefferies Financial Group by 422.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,972,352 shares of the financial services provider’s stock worth $246,167,000 after buying an additional 3,211,375 shares during the last quarter. Eminence Capital LP raised its stake in shares of Jefferies Financial Group by 13.5% during the 4th quarter. Eminence Capital LP now owns 3,812,615 shares of the financial services provider’s stock worth $236,268,000 after acquiring an additional 454,054 shares in the last quarter. AQR Capital Management LLC lifted its position in Jefferies Financial Group by 696.8% during the fourth quarter. AQR Capital Management LLC now owns 3,412,301 shares of the financial services provider’s stock valued at $211,460,000 after acquiring an additional 2,984,055 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Jefferies Financial Group by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,942,554 shares of the financial services provider’s stock valued at $182,390,000 after acquiring an additional 24,171 shares during the last quarter. 60.88% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on JEF. UBS Group reduced their price target on Jefferies Financial Group from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. Oppenheimer reduced their target price on Jefferies Financial Group from $87.00 to $83.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. BMO Capital Markets increased their price target 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. Morgan Stanley raised their price target on Jefferies Financial Group from $44.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Finally, Loop Capital set a $60.00 price target on Jefferies Financial Group in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Jefferies Financial Group currently has a consensus rating of “Hold” and a consensus price target of $62.62.
Jefferies Financial Group Stock Up 0.1%
Shares of JEF stock opened at $53.13 on Monday. Jefferies Financial Group Inc. has a twelve month low of $35.53 and a twelve month high of $71.04. The stock has a market cap of $10.29 billion, a P/E ratio of 14.84 and a beta of 1.54. The stock has a 50 day moving average of $54.41 and a 200 day moving average of $50.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.99.
Jefferies Financial Group (NYSE:JEF – Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Jefferies Financial Group had a return on equity of 9.23% and a net margin of 7.58%.The company’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, sell-side analysts expect that Jefferies Financial Group Inc. will post 3.71 EPS for the current year.
Jefferies Financial Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. Jefferies Financial Group’s dividend payout ratio is 44.69%.
Jefferies Financial Group declared that its board has authorized a share repurchase plan on Wednesday, June 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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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