Jefferies Group said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 26, 2023.
At the current share price of $31.14 / share, the stock's dividend yield is 3.85%. Looking back five years and taking a sample every week, the average dividend yield has been 2.93%, the lowest has been 1.62%, and the highest has been 4.90%. The standard deviation of yields is 0.70 (n=237).
The current dividend yield is 1.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.46. 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.
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Analyst Price Forecast Suggests 18.74% Upside
As of March 30, 2023, the average one-year price target for Jefferies Group is $36.98. The forecasts range from a low of $28.28 to a high of $44.10. The average price target represents an increase of 18.74% from its latest reported closing price of $31.14.
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The projected annual revenue for Jefferies Group is $5,574MM, an increase of 2.64%. The projected annual non-GAAP EPS is $3.71.
What is the Fund Sentiment?
There are 890 funds or institutions reporting positions in Jefferies Group. This is an increase of 62 owner(s) or 7.49% in the last quarter. Average portfolio weight of all funds dedicated to JEF is 0.32%, a decrease of 6.21%. Total shares owned by institutions decreased in the last three months by 0.18% to 170,908K shares. The put/call ratio of JEF is 1.76, indicating a bearish outlook.
What are Large Shareholders Doing?
Sumitomo Mitsui Financial Group holds 10,500K shares representing 4.61% ownership of the company. No change in the last quarter.
First Pacific Advisors holds 5,701K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 5,744K shares, representing a decrease of 0.76%. The firm increased its portfolio allocation in JEF by 11.37% over the last quarter.
First Trust Advisors holds 5,676K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 6,247K shares, representing a decrease of 10.05%. The firm decreased its portfolio allocation in JEF by 3.29% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,657K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 5,434K shares, representing an increase of 3.94%. The firm increased its portfolio allocation in JEF by 5.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,879K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 4,856K shares, representing an increase of 0.48%. The firm increased its portfolio allocation in JEF by 7.83% 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 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.
