Jefferies Financial Group Inc (NYSE:JEF) reported strong earnings results for its fourth quarter on Monday.
Jefferies Group recorded record quarterly net revenues of $1,609 million, record pre-tax income of $406 million, record net earnings of $307 million and return on tangible equity of 26.2%
The company also enjoyed record quarterly Investment Banking net revenues of $916 million, including record Equity Underwriting net revenues of $341 million, record Advisory net revenues of $357 million, and record Debt Underwriting net revenues of $209 million.
Merchant Banking recorded pre-tax income proved to be $33 million, reflecting record quarterly results from Idaho Timber and mark-to-market increases in the value of several of our investments in public companies
Net income attributable to Jefferies Financial Group common shareholders was $307 million, or $1.11 per diluted share
The company repurchased 9.5 million shares for $193 million, or an average price of $20.34 per share; 249.8 million shares were outstanding and 273.6 million shares were outstanding on a fully diluted basis at November 30, 2020; Jefferies book value per share was $37.65 and tangible book value per fully diluted share was $27.38 at the end of the fourth quarter.
In addition, the Jefferies Board of Directors declared a quarterly cash dividend equal to $0.20 per Jefferies common share payable on February 26, to record holders of Jefferies common shares on February 12.
JEF shares rocketed $1.03, or 4.2%, to $25.85.
