Lafayette Investments Inc. Sells 1,706 Shares of Jefferies Financial Group Inc. (NYSE:JEF)

24 Oct 2024, 14:45 by Tristan Rich · The Markets Daily

Lafayette Investments Inc. cut its holdings in shares of Jefferies Financial Group Inc. (NYSE:JEF – Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,870 shares of the financial services provider’s stock after selling 1,706 shares during the period. Jefferies Financial Group makes up approximately 2.3% of Lafayette Investments Inc.’s investment portfolio, making the stock its 11th largest holding. Lafayette Investments Inc. owned 0.09% of Jefferies Financial Group worth $11,133,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Jefferies Financial Group by 92.2% in the first quarter. Sei Investments Co. now owns 376,597 shares of the financial services provider’s stock valued at $16,608,000 after purchasing an additional 180,702 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Jefferies Financial Group by 1,386.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 141,963 shares of the financial services provider’s stock valued at $7,064,000 after purchasing an additional 132,414 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Jefferies Financial Group in the first quarter valued at about $2,722,000. Fulton Bank N.A. bought a new stake in Jefferies Financial Group during the second quarter worth about $726,000. Finally, Seven Eight Capital LP raised its holdings in Jefferies Financial Group by 199.1% during the first quarter. Seven Eight Capital LP now owns 27,541 shares of the financial services provider’s stock worth $1,215,000 after acquiring an additional 18,332 shares in the last quarter. 60.88% of the stock is currently owned by institutional investors.

Jefferies Financial Group Stock Performance

NYSE JEF traded down $0.12 during trading on Thursday, reaching $64.12. 118,428 shares of the company’s stock were exchanged, compared to its average volume of 1,233,502. The business has a 50 day moving average price of $60.83 and a 200-day moving average price of $52.71. The stock has a market capitalization of $13.18 billion, a P/E ratio of 35.49 and a beta of 1.32. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.91 and a quick ratio of 0.91. Jefferies Financial Group Inc. has a fifty-two week low of $31.38 and a fifty-two week 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Jefferies Financial Group had a return on equity of 6.46% and a net margin of 9.27%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $0.32 EPS. Jefferies Financial Group’s quarterly revenue was up 42.4% compared to the same quarter last year. Sell-side analysts forecast that Jefferies Financial Group Inc. will post 3.13 earnings per share for the current fiscal year.

Jefferies Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, November 18th. Jefferies Financial Group’s payout ratio is 77.35%.

Analyst Ratings Changes

JEF has been the topic of several analyst reports. Morgan Stanley upped their target price on Jefferies Financial Group from $59.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Oppenheimer upped their target price on Jefferies Financial Group from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, UBS Group initiated coverage on Jefferies Financial Group in a report on Tuesday, September 17th. They set a “buy” rating and a $67.00 target price on the stock.

Check Out Our Latest Stock Report on Jefferies Financial Group

Insider Activity

In other news, President Brian P. Friedman sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $63.09, for a total value of $12,618,000.00. Following the transaction, the president now owns 604,606 shares of the company’s stock, valued at approximately $38,144,592.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the completion of the purchase, the director now owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Brian P. Friedman sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $63.09, for a total value of $12,618,000.00. Following the completion of the sale, the president now owns 604,606 shares of the company’s stock, valued at approximately $38,144,592.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.40% of the stock is owned by company insiders.

About Jefferies Financial Group

(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.