Teachers Retirement System of The State of Kentucky decreased its holdings in Jefferies Financial Group Inc. (NYSE:JEF) by 10.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 30,200 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Jefferies Financial Group were worth $1,121,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of JEF. Moors & Cabot Inc. bought a new position in shares of Jefferies Financial Group in the 3rd quarter valued at $25,000. Albion Financial Group UT bought a new position in shares of Jefferies Financial Group in the 2nd quarter valued at $43,000. Advisory Services Network LLC bought a new position in shares of Jefferies Financial Group in the 2nd quarter valued at $59,000. Lazard Asset Management LLC grew its position in Jefferies Financial Group by 29.9% during the 2nd quarter. Lazard Asset Management LLC now owns 1,850 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 426 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Jefferies Financial Group by 242.5% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,630 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,570 shares in the last quarter. Institutional investors own 68.59% of the company’s stock.
A number of analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Jefferies Financial Group in a research report on Thursday, December 16th. They set an “equal weight” rating and a $40.00 target price for the company. Keefe, Bruyette & Woods cut Jefferies Financial Group from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a research note on Tuesday, November 16th. They noted that the move was a valuation call. Oppenheimer lifted their target price on Jefferies Financial Group from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, October 1st. The Goldman Sachs Group started coverage on Jefferies Financial Group in a research note on Monday, September 20th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research upgraded Jefferies Financial Group from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Thursday, December 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $42.80.
Jefferies Financial Group (NYSE:JEF) last posted its earnings results on Wednesday, January 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.14). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Jefferies Financial Group had a return on equity of 17.11% and a net margin of 20.46%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Research analysts forecast that Jefferies Financial Group Inc. will post 3.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Monday, February 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, February 11th. This is a positive change from Jefferies Financial Group’s previous quarterly dividend of $0.25. Jefferies Financial Group’s dividend payout ratio (DPR) is 16.31%.
In other Jefferies Financial Group news, President Brian P. Friedman sold 293,561 shares of Jefferies Financial Group stock in a transaction on Friday, November 5th. The stock was sold at an average price of $43.82, for a total value of $12,863,843.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Melissa Weiler bought 4,000 shares of Jefferies Financial Group stock in a transaction on Thursday, January 13th. The stock was acquired at an average cost of $37.49 per share, with a total value of $149,960.00. The disclosure for this purchase can be found here. 17.10% of the stock is owned by company insiders.
About Jefferies Financial Group
Jefferies Financial Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Investment Banking, Capital Markets, and Asset Management; Merchant Banking; and Corporate segments. The Investment Banking, Capital Markets, and Asset Management segment consists of investments in Jefferies Group.
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