Norges Bank Makes New $88.85 Million Investment in Jefferies Financial Group Inc. (NYSE:JEF)

Norges Bank acquired a new stake in Jefferies Financial Group Inc. (NYSE:JEF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,198,754 shares of the financial services provider’s stock, valued at approximately $88,852,000. Norges Bank owned 1.04% of Jefferies Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC boosted its position in Jefferies Financial Group by 1.4% in the 4th quarter. Redmont Wealth Advisors LLC now owns 23,694 shares of the financial services provider’s stock valued at $957,000 after buying an additional 321 shares during the period. Signaturefd LLC raised its stake in shares of Jefferies Financial Group by 7.9% in the third quarter. Signaturefd LLC now owns 5,163 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 377 shares in the last quarter. LPL Financial LLC boosted its holdings in Jefferies Financial Group by 0.4% in the third quarter. LPL Financial LLC now owns 102,487 shares of the financial services provider’s stock valued at $3,754,000 after purchasing an additional 395 shares during the period. Allworth Financial LP grew its stake in Jefferies Financial Group by 56.6% during the 4th quarter. Allworth Financial LP now owns 1,126 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 407 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in Jefferies Financial Group by 3.7% during the 3rd quarter. United Services Automobile Association now owns 11,573 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 60.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JEF. StockNews.com raised Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Oppenheimer boosted their price target on shares of Jefferies Financial Group from $54.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $44.00.

Jefferies Financial Group Price Performance

Shares of NYSE JEF opened at $46.47 on Friday. The stock’s 50-day simple moving average is $44.52 and its 200-day simple moving average is $41.10. The firm has a market capitalization of $9.85 billion, a PE ratio of 38.09 and a beta of 1.36. Jefferies Financial Group Inc. has a fifty-two week low of $29.83 and a fifty-two week high of $47.87. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.91 and a current ratio of 0.91.

Jefferies Financial Group (NYSE:JEF) last announced its quarterly earnings results on Wednesday, March 27th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Jefferies Financial Group had a net margin of 5.90% and a return on equity of 4.41%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue was up 35.4% on a year-over-year basis. As a group, equities research analysts forecast that Jefferies Financial Group Inc. will post 3.4 EPS for the current fiscal year.

Jefferies Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 2.58%. Jefferies Financial Group’s dividend payout ratio is presently 98.36%.

Insiders Place Their Bets

In related news, CEO Richard B. Handler sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $43.50, for a total value of $65,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 15,314,150 shares of the company’s stock, valued at approximately $666,165,525. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard B. Handler sold 1,500,000 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $43.50, for a total transaction of $65,250,000.00. Following the completion of the sale, the chief executive officer now owns 15,314,150 shares in the company, valued at approximately $666,165,525. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Brian P. Friedman sold 55,000 shares of Jefferies Financial Group stock in a transaction on Monday, May 13th. The shares were sold at an average price of $46.30, for a total transaction of $2,546,500.00. Following the completion of the transaction, the president now owns 2,591,350 shares in the company, valued at $119,979,505. The disclosure for this sale can be found here. Corporate insiders own 20.40% of the company’s stock.

Jefferies Financial Group Company Profile

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.