Thu Sep 26 15:01:17 UTC 2024: ## Jefferies Financial Group Shares Dip After Missing Earnings Expectations

**New York, NY -** Jefferies Financial Group Inc. (NYSE: JEF) experienced a dip in share price on Thursday after the company reported weaker-than-expected earnings for the quarter. The stock opened at $59.14, down from its previous close of $61.97, after missing analysts’ estimates on both earnings per share (EPS) and revenue.

Jefferies Financial Group reported $0.75 EPS for the quarter, falling short of the consensus estimate of $0.78. Revenue also came in below expectations at $1.68 billion, compared to analysts’ estimates of $1.71 billion. While the company’s revenue grew by 42.4% year-over-year, the missed expectations led to a sell-off in the stock.

Despite the dip, several analysts remain optimistic about the company’s future prospects. Morgan Stanley raised their price target on Jefferies Financial Group from $59.00 to $64.00, while UBS Group initiated coverage on the company with a “buy” rating and a $67.00 target price.

However, some analysts have a more cautious view. StockNews.com downgraded Jefferies Financial Group from a “buy” to a “hold” rating.

In other news, Mitsui Financial Grou Sumitomo, a director of Jefferies Financial Group, purchased 9,247,081 shares of the company’s stock on Thursday, September 19th. The purchase was valued at $551,773,323.27, representing 20.40% of the company’s stock owned by insiders.

Institutional investors also continue to show interest in the company. Healthcare of Ontario Pension Plan Trust Fund and Sanctuary Advisors LLC both acquired new positions in Jefferies Financial Group during the second quarter, while Northwestern Mutual Wealth Management Co. and Creative Planning increased their stakes in the company.

Jefferies Financial Group operates as an investment banking and capital markets firm with a market capitalization of $12.72 billion. The company provides a range of services, including investment banking, advisory services, underwriting, and corporate lending.

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