Corebridge Financial Inc. Lowers Holdings in Jefferies Financial Group Inc. (NYSE:JEF)

Corebridge Financial Inc. lowered its position in shares of Jefferies Financial Group Inc. (NYSE:JEF) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 184,347 shares of the financial services provider’s stock after selling 8,295 shares during the quarter. Corebridge Financial Inc. owned 0.09% of Jefferies Financial Group worth $14,453,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Massachusetts Mutual Life Insurance Co. acquired a new position in shares of Jefferies Financial Group during the third quarter worth about $286,476,000. FMR LLC increased its position in Jefferies Financial Group by 782.5% during the 3rd quarter. FMR LLC now owns 3,286,958 shares of the financial services provider’s stock worth $202,312,000 after purchasing an additional 2,914,504 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Jefferies Financial Group by 157.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 802,366 shares of the financial services provider’s stock worth $62,905,000 after buying an additional 490,389 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Jefferies Financial Group in the 4th quarter valued at approximately $35,122,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Jefferies Financial Group by 95.7% in the third quarter. Fisher Asset Management LLC now owns 780,877 shares of the financial services provider’s stock valued at $48,063,000 after buying an additional 381,893 shares in the last quarter. Hedge funds and other institutional investors own 60.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JEF shares. Oppenheimer downgraded Jefferies Financial Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. The Goldman Sachs Group set a $75.00 price objective on shares of Jefferies Financial Group in a research note on Wednesday, March 5th. Finally, Morgan Stanley lowered their target price on shares of Jefferies Financial Group from $92.00 to $81.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th.

Jefferies Financial Group Stock Down 0.7 %

Jefferies Financial Group stock opened at $61.74 on Wednesday. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 20.72 and a beta of 1.37. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Jefferies Financial Group Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $82.68. The stock’s fifty day moving average is $67.68 and its two-hundred day moving average is $69.58.

Jefferies Financial Group (NYSE:JEF) last issued its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.83 billion. Jefferies Financial Group had a net margin of 10.57% and a return on equity of 7.92%. Jefferies Financial Group’s revenue was up 63.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. Analysts predict that Jefferies Financial Group Inc. will post 4.41 EPS for the current fiscal year.

Jefferies Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 14th were given a dividend of $0.40 per share. This is an increase from Jefferies Financial Group’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, February 14th. Jefferies Financial Group’s payout ratio is currently 53.69%.

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.