10 Best Performing Warren Buffett Stocks in 2024

2. Jefferies Financial Group Inc. (NYSE:JEF)

Warren Buffett’s Q2 2024 Stake: $21.57 Million

Year to Date Gain as of September 20: 54.11%

Number of Hedge Fund Investors In Q2 2024: 39

Jefferies Financial Group Inc. (NYSE:JEF) is a financial services company that operates as an investment banking and capital markets firm. The company provides banking advisory services and has been one of the best-performing Warren Buffett stocks in 2024 amid the high interest rates environment.

Jefferies Financial Group Inc. (NYSE:JEF) has been powering high in 2024, supported by solid fundamentals such as high interest rates that board well with financial services core business. The rally to 52-week highs underscores a period of significant growth for the diversified financial services company, which has seen its stock value surge by an impressive 70.86% over the past year.

Investors have been buying the stock buoyed by the company’s strategic initiatives and strong financial performance. The firm’s profits rose in the second quarter, as the revenue from investment banking soared by 59% to $1.66 billion and the underwriting of debt more than doubled, contributing to indications of improving outlooks for the largest US banks.

For the fiscal second quarter, investment banking revenue was up 59%. The total earnings were $145.7 million, or 64 cents per share, a significant rise from $12.4 million, or 5 cents per share, in the previous year. These figures indicate a rebound in the demand for investment banking services following geopolitical worries and persistently high interest rates, which previously slowed down the pace of deal-making.

Amid the solid financial results, Jefferies Financial Group Inc. (NYSE:JEF) confirmed a 35% increase in dividend payout to 35 cents a share, affirming why it is one of Warren Buffett’s top stocks.

During June 2024, 39 out of the 912 hedge funds polled by Insider Monkey had bought and owned Jefferies Financial Group Inc. (NYSE:JEF)’s shares. Out of these, the biggest investor was Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC, as it owned 5.4 million shares that are worth $269.21 million.