Brian Friedman, President of Jefferies Monetary Group Inc. (NYSE:JEF), just lately bought a good portion of the corporate’s frequent inventory. In line with a submitting with the Securities and Trade Fee, Friedman bought a complete of 393,397 shares in two separate transactions on November 6, 2024. The shares have 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 numerous entities, embrace 1,282,979 shares held by his belief, 560,507 shares by his LLC, 2,376,315 shares straight, 496,780 shares by a household restricted partnership, and 42,139 shares as a trustee of a profit-sharing plan.
In different latest information, Jefferies Monetary Group reported third-quarter earnings and income that fell wanting 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 powerful efficiency in its Funding Banking phase, with web revenues surging 47% year-over-year to $949 million, pushed by report 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 12 months. For the fiscal 12 months, 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, growing the value goal to $67 from $64, whereas sustaining an Equalweight ranking, reflecting the corporate’s sturdy efficiency and market share beneficial properties. These are a few of the latest developments regarding Jefferies Monetary Group.
InvestingPro Insights
Brian Friedman’s latest 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 robust latest efficiency. As an example, JEF has proven important returns over numerous time frames, together with a 12.63% return prior to now week and a powerful 114.48% return over the past 12 months.
The corporate’s monetary well being seems sturdy, with InvestingPro Information 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 development is noteworthy, with a 26.5% improve over the identical interval and a considerable 42.42% quarterly development in Q3 2024.
Buyers ought to word that regardless of the latest 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 development within the final twelve months.
For these taken with a deeper evaluation, InvestingPro provides 13 further suggestions that might present additional insights into Jefferies Monetary Group’s efficiency and outlook. The following pointers, obtainable on the InvestingPro platform, might be significantly helpful given the corporate’s latest inventory worth actions and government transactions.
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