Corebridge Financial Inc. Lowers Stock Position in Stifel Financial Corp. (NYSE:SF)

Corebridge Financial Inc. decreased its position in Stifel Financial Corp. (NYSE:SF) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,794 shares of the financial services provider’s stock after selling 5,408 shares during the period. Corebridge Financial Inc. owned about 0.11% of Stifel Financial worth $12,283,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Stifel Financial in the 4th quarter valued at $26,000. Versant Capital Management Inc grew its position in shares of Stifel Financial by 46.5% in the fourth quarter. Versant Capital Management Inc now owns 457 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Stifel Financial by 26.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 528 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 111 shares in the last quarter. Mather Group LLC. increased its stake in shares of Stifel Financial by 14.6% during the fourth quarter. Mather Group LLC. now owns 707 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 90 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Stifel Financial by 78.9% during the 4th quarter. GAMMA Investing LLC now owns 900 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 397 shares during the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. initiated 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 boosted their price target on Stifel Financial from $128.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Stifel Financial from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Citigroup increased their target price on shares of Stifel Financial from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, JMP Securities boosted their price target on shares of Stifel Financial from $125.00 to $135.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $117.71.

Stifel Financial Price Performance

Shares of SF stock opened at $101.91 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $10.57 billion, a PE ratio of 16.33 and a beta of 1.08. The firm’s 50-day moving average is $106.57 and its two-hundred day moving average is $105.00. Stifel Financial Corp. has a 12 month low of $73.51 and a 12 month high of $120.64.

Stifel Financial (NYSE:SF) last released its quarterly 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 net margin of 14.00% and a return on equity of 16.59%. Analysts predict that Stifel Financial Corp. will post 8.26 earnings per share for the current year.

Stifel Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.46 per share. The ex-dividend date was Monday, March 3rd. This is a boost from Stifel Financial’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.81%. Stifel Financial’s dividend payout ratio is currently 29.49%.

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.