Stifel Financial reports record client assets of $514 billion, driven by strong equity markets and advisor recruiting.
Quiver AI Summary
Stifel Financial Corp. reported its operating results as of November 30, 2024, highlighting a record increase in total client assets under management, which reached $514 billion, including $197 billion in fee-based assets—both representing significant month-over-month and year-over-year growth. The company attributes this 4% monthly increase to strong equity markets and successful financial advisor recruitment. Additionally, client money market and insured product balances rose by 3%, while the operational conditions for their Institutional Group improved, reflected by increased client activity and investment banking pipelines.
Potential Positives
- Total client assets under management reached a record $514 billion, indicating strong growth and investor confidence.
- Fee-based client assets increased to a record $197 billion, demonstrating a robust shift towards recurring revenue streams.
- Client money market and insured product balances rose by 3%, suggesting positive trends in client liquidity and usage of banking products.
- The operating environment for the Institutional Group improved with increased client activity levels and investment banking pipelines, paving the way for potential future growth.
Potential Negatives
- Despite reporting record client assets, the press release includes a cautionary statement that the limited nature of the data does not guarantee a consistent correlation to earnings, indicating potential uncertainties about financial performance.
FAQ
What were Stifel Financial's total client assets on November 30, 2024?
Stifel Financial reported total client assets of $513.9 billion as of November 30, 2024.
How much did fee-based client assets increase in November 2024?
Fee-based client assets increased by 25% to $197.3 billion in November 2024.
What contributed to the growth of client assets in November?
The growth in client assets was driven by strong equity markets and financial advisor recruiting.
How did client money market balances change in November 2024?
Client money market and insured product balances increased by 3% from October 2024.
What services does Stifel Financial offer?
Stifel Financial offers securities brokerage, investment banking, advisory services, and lending solutions through its subsidiaries.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SF Congressional Stock Trading
Members of Congress have traded $SF stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $SF stock by members of Congress over the last 6 months:
- REPRESENTATIVE JOSH GOTTHEIMER has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 10/31, 06/21.
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$SF Insider Trading Activity
$SF insiders have traded $SF stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $SF stock by insiders over the last 6 months:
- THOMAS W WEISEL sold 13,000 shares.
- VICTOR NESI (Co-President) sold 10,500 shares.
- DAVID D SLINEY (Chief Operating Officer) sold 25,000 shares.
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$SF Hedge Fund Activity
We have seen 198 institutional investors add shares of $SF stock to their portfolio, and 244 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 1,256,595 shares (+18.8%) to their portfolio in Q3 2024
- SILVERCREST ASSET MANAGEMENT GROUP LLC removed 1,228,359 shares (-51.0%) from their portfolio in Q3 2024
- WELLINGTON MANAGEMENT GROUP LLP added 860,465 shares (+78.3%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 625,853 shares (+113.7%) to their portfolio in Q3 2024
- BALYASNY ASSET MANAGEMENT L.P. removed 379,268 shares (-54.4%) from their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC added 367,670 shares (+58.5%) to their portfolio in Q3 2024
- LSV ASSET MANAGEMENT removed 244,900 shares (-14.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ST. LOUIS, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for November 30, 2024 in an effort to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
Ronald J. Kruszewski
,
Chairman and Chief Executive Officer, said, “In November, total client assets under management climbed to a record $514 billion, including a record $197 billion in fee-based assets. This represents a 4% increase from the prior month, driven by strong equity markets and financial advisor recruiting. Client money market and insured product balances increased 3% from October as growth in sweep deposits and Smart Rate balances were comparable. The operating environment for our Institutional Group continues to improve as both client activity levels and investment banking pipelines increased.”
Selected Operating Data (Unaudited) | |||||||||||
As of | % Change | ||||||||||
(millions) | 11/30/2024 | 11/30/2023 | 10/31/2024 | 11/30/2023 | 10/31/2024 | ||||||
Total client assets | $513,931 | $427,843 | $493,469 | 20% | 4% | ||||||
Fee-based client assets | $197,333 | $157,488 | $189,326 | 25% | 4% | ||||||
Private Client Group fee-based client assets | $172,527 | $138,296 | $165,530 | 25% | 4% | ||||||
Bank loans, net (includes loans held for sale) | $20,727 | $20,300 | $20,722 | 2% | 0% | ||||||
Client money market and insured product (1) | $28,558 | $25,526 | $27,613 | 12% | 3% | ||||||
(1) Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.
Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at
www.stifel.com
. For global disclosures, please visit
www.stifel.com/investor-relations/press-releases
.
Media Contact: Neil Shapiro (212) 271-3447 | Investor Contact: Joel Jeffrey (212) 271-3610 | www.stifel.com/investor-relations
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