Eastern Bank Purchases Shares of 679 Jefferies Financial Group Inc. (NYSE:JEF)

Eastern Bank purchased a new stake in Jefferies Financial Group Inc. (NYSE:JEF) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 679 shares of the financial services provider’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in Jefferies Financial Group by 92.2% in the first quarter. Sei Investments Co. now owns 376,597 shares of the financial services provider’s stock valued at $16,608,000 after purchasing an additional 180,702 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Jefferies Financial Group by 1,386.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 141,963 shares of the financial services provider’s stock valued at $7,064,000 after purchasing an additional 132,414 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in Jefferies Financial Group in the first quarter valued at $2,722,000. Fulton Bank N.A. bought a new stake in Jefferies Financial Group in the second quarter valued at $726,000. Finally, Seven Eight Capital LP increased its stake in Jefferies Financial Group by 199.1% in the first quarter. Seven Eight Capital LP now owns 27,541 shares of the financial services provider’s stock valued at $1,215,000 after purchasing an additional 18,332 shares in the last quarter. 60.88% of the stock is owned by institutional investors.

Jefferies Financial Group Stock Down 0.9 %

Shares of NYSE JEF opened at $64.02 on Friday. The stock has a market capitalization of $13.16 billion, a P/E ratio of 35.37 and a beta of 1.32. The company has a 50-day moving average price of $61.11 and a 200-day moving average price of $52.99. Jefferies Financial Group Inc. has a 1 year low of $31.38 and a 1 year high of $67.79. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.03 and a quick ratio of 1.03.

Jefferies Financial Group (NYSE:JEF) last issued its quarterly earnings data on Wednesday, September 25th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.71 billion. Jefferies Financial Group had a net margin of 9.27% and a return on equity of 6.40%. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities research analysts forecast that Jefferies Financial Group Inc. will post 3.13 EPS for the current fiscal year.

Jefferies Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, November 18th. Jefferies Financial Group’s dividend payout ratio (DPR) is presently 77.35%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JEF. Morgan Stanley lifted their price target on shares of Jefferies Financial Group from $59.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. UBS Group began coverage on shares of Jefferies Financial Group in a research note on Tuesday, September 17th. They issued a “buy” rating and a $67.00 price target for the company. Finally, Oppenheimer lifted their price objective on shares of Jefferies Financial Group from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, September 13th.

Insider Buying and Selling

In related news, President Brian P. Friedman sold 200,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $63.09, for a total transaction of $12,618,000.00. Following the transaction, the president now directly owns 604,606 shares in the company, valued at approximately $38,144,592.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the completion of the acquisition, the director now owns 9,247,081 shares in the company, valued at $551,773,323.27. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Brian P. Friedman sold 200,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $63.09, for a total transaction of $12,618,000.00. Following the transaction, the president now owns 604,606 shares in the company, valued at approximately $38,144,592.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.40% of the stock is owned by corporate insiders.

Jefferies Financial Group Company Profile

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.