Atomi Financial Group Increases Stake in Jefferies Financial Group

Atomi Financial Group Inc. has recently reported a significant increase in its investment in Jefferies Financial Group Inc. (NYSE:JEF), boosting its holdings by 23.4% during the third quarter. According to the latest filing with the Securities and Exchange Commission, Atomi now owns 6,660 shares of Jefferies after acquiring an additional 1,261 shares during this period. As of the end of the recent reporting cycle, Atomi's stake in Jefferies was valued at approximately $410,000.

Other hedge funds have also made moves regarding their investments in Jefferies Financial Group. For instance, Allspring Global Investments Holdings LLC increased its stake by 15.3% in the second quarter, amassing a total of 7,049,815 shares worth around $350.8 million after purchasing an additional 936,424 shares. Dimensional Fund Advisors LP raised its holdings by 1.8%, now owning 4,232,280 shares valued at approximately $210.6 million following the acquisition of 76,327 shares. Similarly, Barrow Hanley Mewhinney & Strauss LLC grew its position by 12.9%, while Bank of New York Mellon Corp increased its stake by 1.6%. Notably, Marshall Wace LLP significantly expanded its investment, acquiring an additional 1,529,218 shares, resulting in a total holding of 1,947,192 shares worth $96.9 million. Collectively, institutional investors and hedge funds hold approximately 60.88% of Jefferies Financial Group's stock.

Analysts' Perspectives

Analysts have recently offered updates on Jefferies' stock performance. Morgan Stanley revised its price target for Jefferies Financial Group, raising it from $59.00 to $64.00 and assigning an "equal weight" rating. Oppenheimer also increased its target from $64.00 to $66.00, giving the stock an "outperform" rating. However, StockNews.com downgraded Jefferies Financial Group from a "buy" to a "hold" rating. Meanwhile, UBS Group initiated coverage on Jefferies Financial, giving it a "buy" rating with a target price of $67.00.

Stock Performance Overview

As of last Friday, shares of NYSE:JEF opened at $64.24. The company's market capitalization stands at approximately $13.20 billion, with a price-to-earnings ratio of 27.45 and a beta of 1.32. Jefferies Financial has shown significant price movement within the past year, with a low of $31.38 and a high of $64.54. The stock’s 50-day and 200-day simple moving averages are currently at $59.09 and $51.46, respectively.

Jefferies Financial Group reported its earnings on Wednesday, September 25th. The financial service provider reported earnings of $0.75 per share for the quarter, falling short of the consensus estimate of $0.78 by $0.03. The company reported a net margin of 9.27%, with a return on equity of 6.46%. Revenue for the quarter was at $1.68 billion, slightly below analysts' expectations of $1.71 billion, showing a substantial increase from the previous year's revenue of $0.32 earnings per share. Analysts forecast that Jefferies Financial Group is expected to earn a total of $3.13 per share for the current fiscal year.

Dividend Announcement

Additionally, Jefferies recently announced a quarterly dividend that is to be paid on Wednesday, November 27th. Shareholders on record as of Monday, November 18th, will receive a dividend of $0.35 per share. The ex-dividend date will also be on November 18th, which would amount to an annualized dividend of $1.40, creating a yield of 2.18%. Currently, Jefferies Financial Group has a dividend payout ratio of 59.83%.

Insider Transactions

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of Jefferies' stock in a transaction valued at $551.8 million, with the shares acquired at an average cost of $59.67. This acquisition now places Mitsui Financial as a significant shareholder in the company. Meanwhile, President Brian P. Friedman sold 200,000 shares at an average price of $63.09 on October 10th, totaling $12.6 million. Post-transaction, he holds approximately 604,606 shares valued at around $38.1 million. Now, insiders own around 20.40% of the stock.

About Jefferies Financial Group

Jefferies Financial Group Inc. functions as an investment banking and capital markets firm, with operations extending across the Americas, Europe, the Middle East, and the Asia-Pacific region. The company operates in two primary segments: Investment Banking and Capital Markets, and Asset Management. Jefferies offers various services including investment banking, advisory services related to mergers and acquisitions, debt financing, and corporate lending, among others.

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