Sei Investments Co. trimmed its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,959 shares of the financial services provider’s stock after selling 6,929 shares during the period. Sei Investments Co. owned about 0.07% of Raymond James Financial worth $8,851,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of RJF. YorkBridge Wealth Partners LLC grew its holdings in Raymond James Financial by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 66 shares during the period. Burt Wealth Advisors acquired a new stake in Raymond James Financial in the second quarter valued at approximately $150,000. Pacer Advisors Inc. grew its holdings in Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 206 shares during the period. FNY Partners Fund LP lifted its position in shares of Raymond James Financial by 3,103.0% in the second quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 3,103 shares in the last quarter. Finally, Sawtooth Solutions LLC lifted its position in shares of Raymond James Financial by 2.1% in the second quarter. Sawtooth Solutions LLC now owns 3,067 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 62 shares in the last quarter. 69.86% of the stock is currently owned by institutional investors.
In related news, SVP George Catanese sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.63, for a total transaction of $171,260.00. Following the completion of the transaction, the senior vice president now directly owns 6,678 shares of the company’s stock, valued at approximately $571,837.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Thomas A. James sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $85.98, for a total value of $17,196,000.00. The disclosure for this sale can be found here. Insiders sold 280,812 shares of company stock valued at $24,145,735 over the last ninety days. Insiders own 11.18% of the company’s stock.
Several equities analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on Raymond James Financial in a research report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 target price on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Buckingham Research lifted their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Zacks Investment Research downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Raymond James Financial presently has an average rating of “Buy” and a consensus target price of $88.57.
Raymond James Financial, Inc. (NYSE RJF) traded up $0.74 during trading hours on Thursday, reaching $88.46. The company’s stock had a trading volume of 495,239 shares, compared to its average volume of 781,825. Raymond James Financial, Inc. has a 12 month low of $68.97 and a 12 month high of $91.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14. The stock has a market capitalization of $12,753.45, a P/E ratio of 17.39, a P/E/G ratio of 0.88 and a beta of 1.71.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. equities analysts expect that Raymond James Financial, Inc. will post 5.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, January 2nd. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Raymond James Financial’s payout ratio is presently 20.32%.
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Raymond James Financial Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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