The Ameriprise Financial Inc. cuts position of Stifel Financial Corp. (SF)

The Ameriprise Financial Inc. cuts position of Stifel Financial Corp. (SF)

Ameriprise Financial Inc. lowered its position in shares of Stifel Financial Corp. (NYSE:SF) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 172,085 shares of the financial services provider’s stock after selling 2,546 shares during the period. Ameriprise Financial Inc. owned about 0.26% of Stifel Financial Corp. worth $5,413,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SF. State Street Corp boosted its stake in Stifel Financial Corp. by 1.0% in the first quarter. State Street Corp now owns 2,228,218 shares of the financial services provider’s stock worth $65,956,000 after buying an additional 22,564 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Stifel Financial Corp. by 4.7% in the second quarter. Fisher Asset Management LLC now owns 2,157,032 shares of the financial services provider’s stock worth $67,364,000 after buying an additional 96,315 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Stifel Financial Corp. by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,055,314 shares of the financial services provider’s stock worth $60,837,000 after buying an additional 51,707 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Stifel Financial Corp. by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 1,998,079 shares of the financial services provider’s stock worth $62,839,000 after buying an additional 223,812 shares in the last quarter. Finally, Channing Capital Management LLC boosted its stake in Stifel Financial Corp. by 47.7% in the second quarter. Channing Capital Management LLC now owns 910,231 shares of the financial services provider’s stock worth $28,627,000 after buying an additional 293,838 shares in the last quarter. 85.21% of the stock is currently owned by institutional investors and hedge funds.

Stifel Financial Corp. (NYSE:SF) traded up 1.54% on Friday, reaching $38.96. The company had a trading volume of 28,886 shares. Stifel Financial Corp. has a 1-year low of $25.00 and a 1-year high of $47.17. The firm has a market capitalization of $2.58 billion, a P/E ratio of 46.22 and a beta of 1.66. The company’s 50-day moving average price is $38.59 and its 200 day moving average price is $34.94.

Stifel Financial Corp. (NYSE:SF) last posted its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.58 by $0.11. Stifel Financial Corp. had a net margin of 2.67% and a return on equity of 6.52%. The company had revenue of $652.10 million for the quarter, compared to analyst estimates of $615.82 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Stifel Financial Corp. will post $2.50 EPS for the current year.

SF has been the topic of a number of recent analyst reports. Nomura reissued a “buy” rating on shares of Stifel Financial Corp. in a report on Monday, July 11th. Zacks Investment Research raised Stifel Financial Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 7th. Finally, Macquarie raised their price objective on Stifel Financial Corp. from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, September 9th. Two analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.00.

In other Stifel Financial Corp. news, Director Allen Brautigam sold 2,725 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $36.94, for a total value of $100,661.50. Following the completion of the transaction, the director now owns 35,268 shares in the company, valued at $1,302,799.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.14% of the stock is currently owned by company insiders.

About Stifel Financial Corp.

Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. Its principal activities are private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading, research and municipal finance; investment banking services, including mergers and acquisitions, public offerings and private placements, and retail and commercial banking, including personal and commercial lending programs.

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