In a recent move within the financial sector, Richard B. Handler, the CEO of Jefferies Financial Group Inc. (NYSE:JEF), has sold a substantial portion of his stock in the company. The transaction, which took place on April 24, 2024, involved the sale of 1,500,000 shares at a price of $43.5006 per share, amounting to a total value of approximately $65.25 million.
Despite this significant sale, Handler maintains a strong position within the company, with a remaining direct ownership of 15,314,150 shares following the transaction. Additionally, there are several indirect holdings through various trusts and LLCs associated with Handler, demonstrating his continued investment in the company's future. These holdings include 279,504 shares by a spouse's trust, 234,148 shares by the 2021 LLC, 331,685 shares by the 2022 LLC, 85,584 shares by the 2022-A LLC, 57,940 shares by the 2023-A LLC, 280,173 shares by the 2012 Trust, and 123,442 shares held by a trustee of a profit-sharing plan.
The sale represents a notable event for Jefferies Financial Group, a company known for its role in security brokerage, dealing, and flotation services. Investors often keep a close eye on insider transactions as they can provide insights into the executives' perspectives on the company's performance and prospects.
As of the latest reports, the company's shares are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:JEF, and the stock continues to be monitored by investors who follow the financial industry closely.
InvestingPro Insights
Following the news of CEO Richard B. Handler's stock sale in Jefferies Financial Group Inc. (NYSE:JEF), a closer look at the company's financial metrics provides a broader context for investors. The current market capitalization stands at $9.47 billion, with a price-to-earnings (P/E) ratio of 36.43, which adjusts to 33.12 when considering the last twelve months as of Q1 2024. This suggests that the company is trading at a high earnings multiple, an InvestingPro Tip that could indicate the stock is priced optimistically relative to its earnings.
On the positive side, Jefferies Financial Group has shown a strong commitment to returning value to shareholders, having maintained dividend payments for 15 consecutive years, with a current dividend yield of 2.69%. This consistency is a testament to the company's stability and could be a reassuring sign for investors looking for steady income streams.
Despite a revenue decline of 7.44% over the last twelve months as of Q1 2024, the company's gross profit margin remains high at 75.36%, reflecting its ability to maintain profitability. Additionally, analysts predict the company will be profitable this year, reinforcing confidence in its financial health. Investors should note that there are 7 additional InvestingPro Tips available for Jefferies Financial Group, which can be accessed by visiting https://www.investing.com/pro/JEF. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.