Allspring Global Investments Holdings LLC Reduces Stake in Stifel Financial Corp. (NYSE:SF)

Allspring Global Investments Holdings LLC lessened its holdings in Stifel Financial Corp. (NYSE:SF) by 46.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,995 shares of the financial services provider’s stock after selling 65,423 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Stifel Financial were worth $8,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates lifted its position in Stifel Financial by 1.5% in the third quarter. Raymond James & Associates now owns 115,527 shares of the financial services provider’s stock valued at $10,848,000 after buying an additional 1,672 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Stifel Financial in the third quarter valued at $222,000. Waldron Private Wealth LLC purchased a new stake in Stifel Financial in the 3rd quarter valued at $34,000. Stanley Laman Group Ltd. increased its holdings in shares of Stifel Financial by 4.3% in the third quarter. Stanley Laman Group Ltd. now owns 47,895 shares of the financial services provider’s stock valued at $4,497,000 after purchasing an additional 1,969 shares during the period. Finally, Busey Bank raised its stake in shares of Stifel Financial by 7.0% during the third quarter. Busey Bank now owns 3,006 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 196 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Stifel Financial Price Performance

Shares of NYSE SF opened at $111.38 on Wednesday. The company’s 50-day moving average price is $109.99 and its 200 day moving average price is $101.99. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 17.85 and a beta of 1.11. Stifel Financial Corp. has a 52 week low of $72.78 and a 52 week high of $120.64.

Stifel Financial (NYSE:SF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.23 EPS for the quarter, beating the consensus estimate of $1.96 by $0.27. Stifel Financial had a return on equity of 16.59% and a net margin of 14.00%. As a group, research analysts forecast that Stifel Financial Corp. will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.46 dividend. This is a boost from Stifel Financial’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. This represents a $1.84 annualized dividend and a dividend yield of 1.65%. Stifel Financial’s payout ratio is 26.92%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SF. UBS Group upped their price objective on shares of Stifel Financial from $116.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. TD Cowen increased their price target on shares of Stifel Financial from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. started coverage on Stifel Financial in a report on Tuesday, December 10th. They issued a “neutral” rating and a $120.00 price objective on the stock. Wells Fargo & Company increased their target price on Stifel Financial from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, JMP Securities lifted their price target on Stifel Financial from $125.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.71.

Stifel Financial Company Profile

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.