Oppenheimer Raises Jefferies Financial Group (NYSE:JEF) Price Target to $83.00

Jefferies Financial Group (NYSE:JEF) had its target price hoisted by Oppenheimer from $73.00 to $83.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. UBS Group started coverage on shares of Jefferies Financial Group in a research note on Tuesday, September 17th. They set a “buy” rating and a $67.00 price target for the company. Morgan Stanley lifted their price objective on shares of Jefferies Financial Group from $59.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd.

Jefferies Financial Group Stock Up 0.8 %

Shares of Jefferies Financial Group stock traded up $0.58 during trading on Thursday, reaching $74.08. 591,322 shares of the company traded hands, compared to its average volume of 1,265,972. 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 firm has a market capitalization of $15.22 billion, a PE ratio of 31.56 and a beta of 1.31. The company has a 50 day moving average price of $64.03 and a 200-day moving average price of $55.45. Jefferies Financial Group has a 1-year low of $34.34 and a 1-year high of $75.81.

Jefferies Financial Group (NYSE:JEF) last released its quarterly earnings data on Wednesday, September 25th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Jefferies Financial Group had a return on equity of 6.40% and a net margin of 9.27%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $0.32 EPS. Jefferies Financial Group’s revenue for the quarter was up 42.4% compared to the same quarter last year. As a group, equities research analysts expect that Jefferies Financial Group will post 3.13 earnings per share for the current fiscal year.

Jefferies Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.40 annualized dividend and a yield of 1.89%. Jefferies Financial Group’s payout ratio is currently 59.83%.

Insider Buying and Selling

In other news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the transaction, the director now directly owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Brian P. Friedman sold 393,397 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $72.17, for a total value of $28,391,461.49. Following the transaction, the president now directly owns 560,507 shares in the company, valued at $40,451,790.19. This represents a 41.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,286,923 shares of company stock worth $88,999,151. Insiders own 20.40% of the company’s stock.

Institutional Trading of Jefferies Financial Group

A number of institutional investors have recently modified their holdings of JEF. Rothschild Investment LLC bought a new position in shares of Jefferies Financial Group in the second quarter worth $25,000. Massmutual Trust Co. FSB ADV increased its holdings in Jefferies Financial Group by 75.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 520 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 224 shares during the period. Versant Capital Management Inc boosted its holdings in Jefferies Financial Group by 1,993.8% in the 2nd quarter. Versant Capital Management Inc now owns 670 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 638 shares during the period. Eastern Bank purchased a new stake in shares of Jefferies Financial Group in the third quarter worth $42,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Jefferies Financial Group in the 2nd quarter worth about $48,000. 60.88% of the stock is currently owned by hedge funds and other institutional investors.

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.