Brian Friedman, president of Jefferies Financial Group Inc. (NYSE:JEF), recently sold a significant portion of the company’s common stock. According to a filing with the Securities and Exchange Commission, Friedman sold a total of 393,397 shares in two separate transactions on November 6, 2024. The shares were sold at prices ranging between $72.00 and $72.56 and between $ 72,345 and $72.42 per share, resulting in a total transaction value of approximately $28.4 million.
Following these transactions, Friedman’s holdings in Jefferies Financial Group, through various entities, include 1,282,979 shares held by his trust, 560,507 shares by his LLC, 2,376,315 shares directly, 496,780 shares by a family limited partnership and 42,139 shares as trustee of a gain. -exchange plan.
In other recent news, Jefferies Financial Group reported third-quarter earnings and revenue that missed analyst expectations. The company posted net earnings of $167 million, equivalent to $0.75 per diluted share, below the projected $0.77 per share. Revenue was $1.68 billion, less than the $1.74 billion forecast. Despite this, Jefferies experienced strong performance in its Investment Banking segment, with net revenue increasing 47% year over year to $949 million, driven by record quarterly advisory revenue of $592 million. The company’s Capital Markets net revenue fell 3% sequentially to $671 million, but increased 28.1% compared to the same quarter last year. For the fiscal year, Jefferies generated net earnings of $463 million, or $2.06 per diluted share, on revenue of $5.08 billion. Besides, Morgan Stanley (NYSE:) has updated its outlook on Jefferies, raising the price target to $67 from $64, while maintaining an Equalweight rating, reflecting the company’s strong performance and market share gains. These are some of the recent developments related to Jefferies Financial Group.
InvestingPro Insights
Brian Friedman’s recent sale of Jefferies Financial Group Inc. (NYSE:JEF) stock comes at a time when the company’s stock is trading near its 52-week high, with its price at 99%. .04% of its maximum. This aligns with several tips from InvestingPro that highlight the company’s strong recent performance. For example, JEF has shown significant returns over several time periods, including a 12.63% return last week and an impressive 114.48% return over the past year.
The company’s financial health appears strong, with InvestingPro Data showing a market capitalization of $14.83 billion and revenue of $6.25 billion for the trailing twelve months to Q3 2024. JEF’s revenue growth is worthy of mention, with an increase of 26.5% during the same period and a substantial quarterly growth of 42.42% in the third quarter of 2024.
Investors should note that despite the company’s president’s recent sale of shares, JEF has maintained dividend payments for 15 consecutive years, according to a tip from InvestingPro. The current dividend yield stands at 1.94%, with a dividend growth of 16.67% in the last twelve months.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips that could provide more insight into Jefferies Financial Group’s performance and prospects. These tips, available on the InvestingPro platform, could be particularly valuable given the company’s recent share price movements and executive transactions.
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