Brian Friedman, President of Jefferies Monetary Group Inc. (NYSE:JEF), lately bought a good portion of the corporate’s widespread inventory. In line with a submitting with the Securities and Change Fee, Friedman bought a complete of 393,397 shares in two separate transactions on November 6, 2024. The shares had been bought at costs starting from $72.00 to $72.56 and $72.345 to $72.42 per share, leading to a complete transaction worth of roughly $28.4 million.
Following these transactions, Friedman’s holdings in Jefferies Monetary Group, by way of numerous entities, embrace 1,282,979 shares held by his belief, 560,507 shares by his LLC, 2,376,315 shares instantly, 496,780 shares by a household restricted partnership, and 42,139 shares as a trustee of a profit-sharing plan.
In different current information, Jefferies Monetary Group reported third-quarter earnings and income that fell in need of analyst expectations. The corporate recorded web earnings of $167 million, equal to $0.75 per diluted share, lacking the projected $0.77 per share. Income was reported at $1.68 billion, decrease than the anticipated $1.74 billion. Regardless of this, Jefferies noticed a robust efficiency in its Funding Banking phase, with web revenues surging 47% year-over-year to $949 million, pushed by document quarterly advisory revenues of $592 million. The corporate’s Capital Markets web revenues dipped 3% sequentially to $671 million, but rose 28.1% in comparison with the identical quarter final yr. For the fiscal yr, Jefferies generated web earnings of $463 million, or $2.06 per diluted share, on revenues of $5.08 billion. Moreover, Morgan Stanley (NYSE:) has up to date its outlook on Jefferies, rising the worth goal to $67 from $64, whereas sustaining an Equalweight ranking, reflecting the corporate’s sturdy efficiency and market share good points. These are a few of the current developments regarding Jefferies Monetary Group.
InvestingPro Insights
Brian Friedman’s current sale of Jefferies Monetary Group Inc. (NYSE:JEF) shares comes at a time when the corporate’s inventory is buying and selling close to its 52-week excessive, with a worth that’s 99.04% of its peak. This aligns with a number of InvestingPro Ideas that spotlight the corporate’s sturdy current efficiency. As an illustration, JEF has proven important returns over numerous time frames, together with a 12.63% return up to now week and a formidable 114.48% return during the last yr.
The corporate’s monetary well being seems sturdy, with InvestingPro Knowledge displaying a market capitalization of $14.83 billion and a income of $6.25 billion for the final twelve months as of Q3 2024. JEF’s income progress is noteworthy, with a 26.5% improve over the identical interval and a considerable 42.42% quarterly progress in Q3 2024.
Traders ought to be aware that regardless of the current inventory sale by the corporate’s president, JEF has maintained dividend funds for 15 consecutive years, as per an InvestingPro Tip. The present dividend yield stands at 1.94%, with a 16.67% dividend progress within the final twelve months.
For these focused on a deeper evaluation, InvestingPro affords 13 extra ideas that would present additional insights into Jefferies Monetary Group’s efficiency and outlook. The following pointers, out there on the InvestingPro platform, may very well be notably useful given the corporate’s current inventory worth actions and government transactions.
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