NewEdge Wealth LLC Invests $49.90 Million in Jefferies Financial Group Inc. $JEF

NewEdge Wealth LLC purchased a new position in shares of Jefferies Financial Group Inc. (NYSE:JEF) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 998,413 shares of the financial services provider’s stock, valued at approximately $49,901,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its position in Jefferies Financial Group by 75.0% during the fourth quarter. Salomon & Ludwin LLC now owns 413 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 177 shares in the last quarter. Smithfield Trust Co acquired a new stake in shares of Jefferies Financial Group in the 4th quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in shares of Jefferies Financial Group in the 4th quarter valued at $28,000. Ramirez Asset Management Inc. bought a new position in shares of Jefferies Financial Group in the 4th quarter valued at $31,000. Finally, CX Institutional increased its stake in shares of Jefferies Financial Group by 77.6% in the 2nd quarter. CX Institutional now owns 547 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 239 shares during the last quarter. 60.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on JEF shares. UBS Group dropped their price objective on Jefferies Financial Group from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. BMO Capital Markets lifted their target price on Jefferies Financial Group from $42.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, June 8th. Oppenheimer lowered their target price on Jefferies Financial Group from $87.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. The Goldman Sachs Group reissued a “buy” rating on shares of Jefferies Financial Group in a report on Friday, June 5th. Finally, Weiss Ratings upgraded shares of Jefferies Financial Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Jefferies Financial Group currently has a consensus rating of “Hold” and an average target price of $62.62.

Jefferies Financial Group Stock Down 0.8%

Shares of NYSE:JEF opened at $53.43 on Thursday. The company has a fifty day moving average of $55.68 and a 200-day moving average of $51.05. The company has a market capitalization of $10.35 billion, a PE ratio of 14.92 and a beta of 1.54. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.98 and a current ratio of 0.98. Jefferies Financial Group Inc. has a 52-week low of $35.53 and a 52-week high of $71.04.

Jefferies Financial Group (NYSE:JEF) last announced its quarterly earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.14). Jefferies Financial Group had a net margin of 7.58% and a return on equity of 9.23%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 35.0% on a year-over-year basis. On average, equities analysts predict that Jefferies Financial Group Inc. will post 3.71 EPS for the current fiscal year.

Jefferies Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Jefferies Financial Group’s dividend payout ratio is presently 44.69%.

Jefferies Financial Group announced that its board has authorized a stock buyback program on Wednesday, June 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Key Stories Impacting Jefferies Financial Group

Here are the key news stories impacting Jefferies Financial Group this week:

• Positive Sentiment: Private-credit fundraising could support growth: Jefferies Credit Partners is reportedly seeking approximately $1.16 billion, or €1 billion, for a fund investing in private-credit secondary-market opportunities. The fund could expand Jefferies’ asset-management and credit-investment platform, although details on fundraising and economics remain limited. Jefferies Credit Partners Is Moving Its Own Loans Into a New Fund Jefferies aims to raise €1B for private credit secondaries fund
• Neutral Sentiment: Research activity involving other companies is unlikely to materially affect JEF directly: Jefferies maintained or changed recommendations on Bajaj Housing Finance, Swiggy, Jupiter Wagons, Belrise Industries and BSE. These reports may generate advisory or trading activity, but they do not represent changes to JEF’s own earnings outlook. Jefferies research on Bajaj Housing Finance Jefferies research on Swiggy
• Negative Sentiment: Shareholder investigation adds an overhang: Bragar Eagel & Squire announced an investigation into Jefferies Financial Group on behalf of investors who suffered losses. The announcement does not establish wrongdoing, but such notices can increase headline, legal and reputational risk. Bragar Eagel & Squire investigation into Jefferies Financial Group

Jefferies Financial Group Company Profile

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.