TFS Financial Corp (NASDAQ:TFSL) has reported a significant transaction by its Chairman, President, and CEO, Marc A. Stefanski, according to the latest SEC filings. Stefanski sold 20,000 shares of the company's common stock on September 10, 2024, for a total value of $256,400, at an average price of $12.82 per share.
This transaction has adjusted Stefanski's direct holdings in the company, which now stand at 227,080 shares. Additionally, as the trustee for his daughter's trust, Stefanski indirectly disposed of shares, resulting in a post-transaction indirect ownership of 37,150 shares under the trust. The SEC filing also revealed indirect ownership through other family trusts and accounts, including shares held by Stefanski's spouse, sibling trust, and as a beneficiary of a trust.
It is important to note that the shares sold were a part of the common stock of the company and do not include derivative securities such as performance restricted share units or employee stock options, which are subject to different reporting requirements and were not part of this transaction.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insights into their perspective on the company's current valuation and future prospects. TFS Financial's latest SEC filing provides a detailed account of these insider transactions, offering valuable information for shareholders and potential investors.
In other recent news, insurance broker TWFG, also known as Woodlands Financial Group, experienced a successful debut on the Nasdaq stock exchange, selling 11 million shares and raising a total of $187 million. The firm's financial move is backed by RenaissanceRe (NYSE:RNR), a reinsurer listed on the New York Stock Exchange. TWFG operates across 41 states and the District of Columbia and cooperates with over 300 insurance carriers. Among TWFG's shareholders are Bunch Family Holdings and the private investment firm Griffin Highline Capital. The company's revenue is significantly supported by auto insurer Progressive and Travelers (NYSE:TRV).
In other developments, TFS Financial Corporation announced that its mutual holding company, Third Federal Savings and Loan Association of Cleveland, received approval from its members to waive dividends aggregating up to $1.13 per share. This waiver is applicable to dividends declared on the company's common stock over the next twelve months. In addition, Keefe Bruyette & Woods adjusted their financial outlook on TFS Financial, reducing the price target from $15.00 to $14.00 and maintaining its Market Perform rating. The firm increased its forecasted earnings for fiscal years 2024 and 2025 to $0.26 per share.
InvestingPro Insights
In light of the recent insider transactions at TFS Financial Corp (NASDAQ:TFSL), investors may find the following InvestingPro Insights particularly valuable. The company's market capitalization stands at approximately $3.59 billion, reflecting its size and the market's valuation of the firm. With a P/E ratio of 45.17, TFS Financial is trading at a high earnings multiple, suggesting that investors have high expectations for future earnings growth, despite the company's revenue having decreased by 1.91% over the last twelve months as of Q3 2024.
Dividend-focused investors might be interested to know that TFS Financial pays a significant dividend, with a current yield of 8.82%, which is quite substantial. Notably, the company has maintained its dividend payments for 11 consecutive years, indicating a strong commitment to returning value to shareholders. This is further supported by the firm's high shareholder yield, which is a key metric for those seeking income-generating investments.
For those looking to delve deeper into TFS Financial's performance and prospects, InvestingPro offers additional insights. Currently, there are six more InvestingPro Tips available for TFSL, which can be accessed through the dedicated page for the company at InvestingPro.
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