Summit Investment Advisors Inc. Grows Stock Holdings in Stifel Financial Corporation $SF

Summit Investment Advisors Inc. grew its stake in Stifel Financial Corporation (NYSE:SF) by 10.0% during the first quarter, Holdings Channel.com reports. The fund owned 39,398 shares of the financial services provider’s stock after purchasing an additional 3,597 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Stifel Financial were worth $3,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SF. AQR Capital Management LLC grew its stake in Stifel Financial by 314.1% in the first quarter. AQR Capital Management LLC now owns 1,383,836 shares of the financial services provider’s stock worth $126,925,000 after purchasing an additional 1,049,665 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Stifel Financial by 529.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 398,633 shares of the financial services provider’s stock worth $37,576,000 after buying an additional 335,257 shares in the last quarter. Nuveen LLC purchased a new position in shares of Stifel Financial during the first quarter valued at $28,564,000. Vanguard Group Inc. raised its holdings in shares of Stifel Financial by 2.1% in the first quarter. Vanguard Group Inc. now owns 10,620,407 shares of the financial services provider’s stock valued at $1,001,080,000 after acquiring an additional 217,415 shares in the last quarter. Finally, Access Investment Management LLC bought a new stake in shares of Stifel Financial in the second quarter valued at about $14,786,000. Institutional investors own 82.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SF shares. BMO Capital Markets assumed coverage on shares of Stifel Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $121.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Stifel Financial in a research note on Wednesday, October 8th. UBS Group set a $135.00 target price on Stifel Financial in a report on Thursday, October 9th. Zacks Research upgraded Stifel Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on Stifel Financial from $125.00 to $133.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stifel Financial currently has a consensus rating of “Moderate Buy” and an average target price of $125.90.

Stifel Financial Stock Up 1.3%

Shares of SF stock opened at $121.68 on Friday. The stock’s fifty day moving average price is $114.27 and its 200 day moving average price is $106.66. Stifel Financial Corporation has a 1-year low of $73.27 and a 1-year high of $121.74. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 21.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77.

Stifel Financial (NYSE:SF) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. Stifel Financial had a return on equity of 15.06% and a net margin of 12.44%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $1.50 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, research analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.5%. Stifel Financial’s dividend payout ratio (DPR) is currently 32.51%.

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.