NewEdge Wealth LLC Raises Holdings in Jefferies Financial Group Inc. $JEF

NewEdge Wealth LLC boosted its position in Jefferies Financial Group Inc. (NYSE:JEF) by 10.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,017,831 shares of the financial services provider’s stock after acquiring an additional 93,216 shares during the quarter. NewEdge Wealth LLC’s holdings in Jefferies Financial Group were worth $42,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its stake in Jefferies Financial Group by 422.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,972,352 shares of the financial services provider’s stock worth $246,167,000 after purchasing an additional 3,211,375 shares during the last quarter. Eminence Capital LP raised its position in shares of Jefferies Financial Group by 13.5% in the fourth quarter. Eminence Capital LP now owns 3,812,615 shares of the financial services provider’s stock valued at $236,268,000 after buying an additional 454,054 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Jefferies Financial Group by 696.8% in the fourth quarter. AQR Capital Management LLC now owns 3,412,301 shares of the financial services provider’s stock worth $211,460,000 after buying an additional 2,984,055 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Jefferies Financial Group by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,942,554 shares of the financial services provider’s stock worth $182,390,000 after buying an additional 24,171 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Jefferies Financial Group by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,666,097 shares of the financial services provider’s stock worth $110,015,000 after acquiring an additional 58,585 shares during the last quarter. Hedge funds and other institutional investors own 60.88% of the company’s stock.

Key Jefferies Financial Group News

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

• Positive Sentiment: Jefferies is helping arrange InMobi’s nearly $1 billion IPO alongside JPMorgan, highlighting continued activity in capital markets and underwriting. InMobi appoints JPMorgan, Jefferies for nearly $1 billion IPO
• Positive Sentiment: Jefferies expanded its Brazil equity sales team by hiring a former Credit Suisse executive, a sign it is still investing in growth in international markets. Jefferies Adds Ex-Credit Suisse Executive on Brazil Equity Sales
• Neutral Sentiment: Jefferies launched $458 million of senior autocallable notes tied to the Russell 2000 and S&P 500, reflecting ongoing product issuance but not a major fundamental catalyst. Jefferies Launches $458 Million Senior Autocallable Notes Tied to Russell 2000 and S&P 500 Indices
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Jefferies Financial Group investors, which can weigh on sentiment because it raises the risk of legal overhang and potential costs. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Jefferies Financial Group Inc. – JEF
• Negative Sentiment: A fire at Jefferies’ New York headquarters led to an evacuation, an operational headline that is likely more distracting than financially material but still negative for near-term sentiment. Fire Triggers Evacuation of Jefferies NYC Headquarters

Jefferies Financial Group Price Performance

Shares of JEF stock opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50-day moving average is $54.94 and its two-hundred day moving average is $52.10. Jefferies Financial Group Inc. has a 12 month low of $35.53 and a 12 month high of $71.04. The company has a market capitalization of $10.84 billion, a PE ratio of 15.64 and a beta of 1.54.

Jefferies Financial Group (NYSE:JEF) last posted its earnings results on Wednesday, June 24th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts predict that Jefferies Financial Group Inc. will post 3.71 earnings per share for the current year.

Jefferies Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Jefferies Financial Group’s payout ratio is presently 44.69%.

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

Wall Street Analyst Weigh In

JEF has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Jefferies Financial Group from $44.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. Loop Capital set a $60.00 target price on Jefferies Financial Group in a report on Monday, June 8th. BMO Capital Markets upped their price target 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. Weiss Ratings raised Jefferies Financial Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, July 13th. Finally, UBS Group reduced their price objective on Jefferies Financial Group from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jefferies Financial Group has an average rating of “Hold” and a consensus target price of $62.62.

Jefferies Financial Group 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.