Royal Bank of Canada Cuts Stake in Jefferies Financial Group Inc.

Royal Bank of Canada has reduced its stake in Jefferies Financial Group Inc. by 56% during the first quarter, selling 76,085 shares and retaining a remaining 59,784 shares worth approximately $2.47 million.

This move is part of a larger trend among hedge funds, with several institutions buying and selling JEF shares throughout the year. Salomon & Ludwin LLC increased its stake by 75% in the fourth quarter, while Quadrant Capital Group LLC boosted its holdings by 1.3% in the third quarter.

Despite this fluctuation, institutional investors continue to hold a significant portion of JEF's stock, with a combined ownership of 60.88%. Jefferies Financial Group has announced a quarterly dividend of $0.40 per share, paid out on August 28th for shareholders recorded as of August 18th.