Assetmark Inc. Raises Stock Holdings in Stifel Financial Corporation (NYSE:SF)

Assetmark Inc. lifted its holdings in shares of Stifel Financial Corporation (NYSE:SF) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,514 shares of the financial services provider’s stock after purchasing an additional 992 shares during the quarter. Assetmark Inc.’s holdings in Stifel Financial were worth $2,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SF. NBC Securities Inc. bought a new stake in Stifel Financial in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in Stifel Financial in the 1st quarter worth approximately $27,000. Allworth Financial LP lifted its position in Stifel Financial by 67.7% in the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider’s stock worth $29,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Stifel Financial by 123.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider’s stock worth $31,000 after buying an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Stifel Financial by 52.1% in the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider’s stock worth $34,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SF. The Goldman Sachs Group lowered their price objective on Stifel Financial from $121.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Citigroup boosted their price objective on Stifel Financial from $94.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, July 7th. Wolfe Research upgraded Stifel Financial from a “peer perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Thursday, April 24th. JMP Securities boosted their price objective on Stifel Financial from $120.00 to $130.00 and gave the company a “market outperform” rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Stifel Financial from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $110.88.

Insider Activity

In other news, Director Michael J. Zimmerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the transaction, the director directly owned 45,833 shares of the company’s stock, valued at approximately $4,431,592.77. The trade was a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.57% of the company’s stock.

Stifel Financial Price Performance

SF opened at $109.91 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.81. Stifel Financial Corporation has a 52-week low of $73.27 and a 52-week high of $120.64. The stock has a market capitalization of $11.29 billion, a PE ratio of 21.02 and a beta of 1.09. The stock’s 50 day moving average price is $102.01 and its 200-day moving average price is $99.78.

Stifel Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.84 annualized dividend and a dividend yield of 1.67%. Stifel Financial’s dividend payout ratio (DPR) is presently 35.18%.

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.