Private Management Group Inc. Sells 236,785 Shares of Jefferies Financial Group Inc. (NYSE:JEF)

by · The Markets Daily

Private Management Group Inc. lowered its position in shares of Jefferies Financial Group Inc. (NYSE:JEF – Free Report) by 20.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 911,070 shares of the financial services provider’s stock after selling 236,785 shares during the period. Jefferies Financial Group comprises about 2.0% of Private Management Group Inc.’s portfolio, making the stock its 4th biggest position. Private Management Group Inc. owned about 0.44% of Jefferies Financial Group worth $56,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP raised its stake in shares of Jefferies Financial Group by 365.9% during the second quarter. Marshall Wace LLP now owns 1,947,192 shares of the financial services provider’s stock valued at $96,892,000 after acquiring an additional 1,529,218 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of Jefferies Financial Group in the 2nd quarter valued at about $58,211,000. Allspring Global Investments Holdings LLC boosted its holdings in Jefferies Financial Group by 15.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,049,815 shares of the financial services provider’s stock valued at $350,799,000 after acquiring an additional 936,424 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Jefferies Financial Group during the 2nd quarter valued at approximately $21,148,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Jefferies Financial Group by 12.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,396,255 shares of the financial services provider’s stock worth $168,998,000 after purchasing an additional 389,385 shares during the period. Institutional investors and hedge funds own 60.88% of the company’s stock.

Insider Activity

In related news, President Brian P. Friedman sold 247,326 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $65.20, for a total value of $16,125,655.20. Following the completion of the sale, the president now directly owns 1,632,277 shares of the company’s stock, valued at approximately $106,424,460.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Jefferies Financial Group news, President Brian P. Friedman sold 247,326 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $65.20, for a total value of $16,125,655.20. Following the completion of the sale, the president now owns 1,632,277 shares in the company, valued at approximately $106,424,460.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the transaction, the director now owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. The disclosure for this purchase can be found here. Insiders have sold 493,526 shares of company stock worth $31,703,689 over the last 90 days. 20.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JEF has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Jefferies Financial Group from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Morgan Stanley raised their target price on Jefferies Financial Group from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. Finally, UBS Group began coverage on Jefferies Financial Group in a report on Tuesday, September 17th. They issued a “buy” rating and a $67.00 target price for the company.

Check Out Our Latest Report on JEF

Jefferies Financial Group Stock Up 0.4 %

Shares of JEF stock traded up $0.24 on Friday, reaching $64.22. 868,426 shares of the company were exchanged, compared to its average volume of 1,232,128. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $61.79 and a 200-day moving average of $53.69. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 27.46 and a beta of 1.32. Jefferies Financial Group Inc. has a one year low of $32.75 and a one year high of $67.79.

Jefferies Financial Group (NYSE:JEF – Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The financial services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.71 billion. Jefferies Financial Group had a net margin of 9.27% and a return on equity of 6.40%. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Analysts anticipate that Jefferies Financial Group Inc. will post 3.13 earnings per share for the current year.

Jefferies Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, November 18th. Jefferies Financial Group’s dividend payout ratio (DPR) is presently 59.83%.

Jefferies Financial Group Company Profile

(Free Report)

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.

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