Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 18.38MM shares of Jefferies Group Inc (JEF). This represents 8.0% of the company.
In their previous filing dated February 1, 2022 they reported 18.25MM shares and 7.40% of the company, an increase in shares of 0.71% and an increase in total ownership of 0.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 0.73% Upside
As of February 5, 2023, the average one-year price target for Jefferies Group is $39.78. The forecasts range from a low of $28.28 to a high of $50.40. The average price target represents an increase of 0.73% from its latest reported closing price of $39.49.
The projected annual revenue for Jefferies Group is $5,574MM, a decrease of 4.56%. The projected annual EPS is $3.71, an increase of 18.65%.
Fund Sentiment
There are 845 funds or institutions reporting positions in Jefferies Group. This is an increase of 26 owner(s) or 3.17%.
Average portfolio weight of all funds dedicated to US:JEF is 0.3500%, an increase of 13.4319%. Total shares owned by institutions decreased in the last three months by 0.36% to 171,705K shares.
What are large shareholders doing?
Sumitomo Mitsui Financial Group holds 10,500,000 shares representing 4.64% ownership of the company. No change in the last quarter.
First Trust Advisors holds 6,246,594 shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 7,369,289 shares, representing a decrease of 17.97%. The firm decreased its portfolio allocation in JEF by 4.93% over the last quarter.
First Pacific Advisors holds 5,701,168 shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 5,744,478 shares, representing a decrease of 0.76%. The firm increased its portfolio allocation in JEF by 11.37% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,434,217 shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 5,509,643 shares, representing a decrease of 1.39%. The firm increased its portfolio allocation in JEF by 5.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,855,621 shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 4,942,241 shares, representing a decrease of 1.78%. The firm increased its portfolio allocation in JEF by 9.38% over the last quarter.
Jefferies Group Declares $0.30 Dividend
Jefferies Group said on January 9, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of February 10, 2023 will receive the payment on February 24, 2023. Previously, the company paid $0.30 per share.
At the current share price of $39.49 / share, the stock's dividend yield is 3.04%. Looking back five years and taking a sample every week, the average dividend yield has been 2.89%, the lowest has been 1.60%, and the highest has been 4.90%. The standard deviation of yields is 0.71 (n=236).
The current dividend yield is 0.21 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.35. 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.
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 story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
