Fintel reports that on August 22, 2023, Goldman Sachs upgraded their outlook for Jefferies Financial Group (NYSE:JEF) from Neutral to Buy.
Analyst Price Forecast Suggests 6.47% Upside
As of August 2, 2023, the average one-year price target for Jefferies Financial Group is 36.46. The forecasts range from a low of 34.34 to a high of $40.95. The average price target represents an increase of 6.47% from its latest reported closing price of 34.25.
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The projected annual revenue for Jefferies Financial Group is 5,574MM, an increase of 2.64%. The projected annual non-GAAP EPS is 3.71.
Jefferies Financial Group Declares $0.30 Dividend
On June 27, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of August 14, 2023 will receive the payment on August 25, 2023. Previously, the company paid $0.30 per share.
At the current share price of $34.25 / share, the stock’s dividend yield is 3.50%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.09%, the lowest has been 1.79%, and the highest has been 4.90%. The standard deviation of yields is 0.63 (n=236).
The current dividend yield is 0.65 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.45. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 846 funds or institutions reporting positions in Jefferies Financial Group. This is a decrease of 42 owner(s) or 4.73% in the last quarter. Average portfolio weight of all funds dedicated to JEF is 0.28%, a decrease of 9.93%. Total shares owned by institutions decreased in the last three months by 6.14% to 155,136K shares. The put/call ratio of JEF is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
IJH – iShares Core S&P Mid-Cap ETF holds 5,582K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 5,657K shares, representing a decrease of 1.35%. The firm decreased its portfolio allocation in JEF by 12.56% over the last quarter.
First Pacific Advisors holds 5,512K shares representing 2.50% ownership of the company. In it’s prior filing, the firm reported owning 5,604K shares, representing a decrease of 1.66%. The firm decreased its portfolio allocation in JEF by 3.31% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,925K shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 4,879K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in JEF by 13.70% over the last quarter.
FPACX – FPA Crescent Fund holds 4,698K shares representing 2.13% ownership of the company. No change in the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 4,169K shares representing 1.89% ownership of the company. In it’s prior filing, the firm reported owning 4,130K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in JEF by 10.29% over the last quarter.
Jefferies Financial Group Background Information
(This description is provided by the company.)
Jefferies Financial Group Inc. is a diversified financial services company engaged in investment banking and capital markets, asset management and direct investing. Jefferies Group LLC, its largest subsidiary, is the largest independent full-service global investment banking firm headquartered in the U.S.
This article originally appeared on Fintel
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