Oppenheimer Adjusts Price Target for Jefferies Financial Group

Oppenheimer has recently adjusted its target price for Jefferies Financial Group (NYSE:JEF) following their analysis of the company's stock. The price target was lowered from $82.00 to $81.00, as announced in a research note released on Friday.

Despite the decrease in the price target, Oppenheimer has maintained an "outperform" rating for Jefferies Financial Group. This rating suggests that they believe the stock has the potential to perform better than the market average. The new price target indicates a potential increase of 0.80% from the company's last closing price.

Market Reactions and Other Analysts' Ratings

In addition to Oppenheimer's report, other financial institutions have also provided their evaluations of Jefferies Financial Group. For instance, UBS Group began coverage on the stock with a "buy" rating and set a price target of $67.00 on September 17th. Meanwhile, Morgan Stanley raised Jefferies Financial Group from an "equal weight" to an "overweight" rating, boosting their target price from $67.00 to $97.00 back in December.

These varied assessments indicate mixed sentiments in the market about Jefferies Financial Group's future performance. Analysts are weighing the company's market position and potential against its historical performance.

Jefferies Financial Group Stock Performance

During mid-day trading on Friday, Jefferies Financial Group's stock saw an increase of $1.34, reaching a price of $80.36. The trading volume was reported at 291,766 shares, significantly lower than the average of 960,912 shares. Currently, the company's stock has a fifty-day simple moving average of $75.21 and a two-hundred-day moving average at $63.38. Over the past year, the stock has fluctuated between a low of $38.77 and a high of $82.04. Jefferies Financial Group currently holds a market capitalization of approximately $16.51 billion with a P/E ratio of 34.34.

Insider Transactions

In related news, the company's President, Brian P. Friedman, recently sold 247,326 shares on October 30th at an average price of $65.20. This sale was valued at approximately $16.13 million, leading to a 13.16% reduction in his holdings. After this transaction, he retained about 1.63 million shares, worth approximately $106.42 million.

Similarly, CEO Richard B. Handler sold 400,000 shares on November 6th at an average price of $72.26, totaling around $28.90 million. Post-sale, he continues to own nearly 14.97 million shares valued at about $1.08 billion. Collectively, insiders have sold approximately 1.29 million shares worth nearly $89 million over the past three months, indicating that they own about 20.40% of the company’s stock.

Institutional Activity

Institutional investors have also been active in trading Jefferies Financial Group shares. For example, GAMMA Investing LLC increased their holdings by 158.3% during the last quarter, now owning 514 shares valued at approximately $40,000. Additionally, JPMorgan Chase & Co. has raised its stake by 7.2%, owning over 2.5 million shares worth around $154.15 million.

Franklin Resources Inc. has increased its stake by 232.9%, while Lord Abbett & Co. has made new investments in the company. Approximately 60.88% of Jefferies Financial Group's stock is held by institutional investors, hinting at ongoing interest in the firm.

Company Overview

Jefferies Financial Group Inc operates as a diversified investment banking and capital markets firm. The company provides various financial services, including investment banking, mergers and acquisitions advisory, capital raising, and asset management. Their operations span across the Americas, Europe, the Middle East, and the Asia-Pacific region, showcasing their global reach and diversified offerings.

Oppenheimer, Jefferies, Stock