Raymond James Financial, Inc. $RJF Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 25.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,764 shares of the financial services provider’s stock after selling 12,796 shares during the quarter. ProShare Advisors LLC’s holdings in Raymond James Financial were worth $6,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP grew its position in shares of Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 4,592 shares during the last quarter. Blair William & Co. IL acquired a new stake in Raymond James Financial during the 2nd quarter worth $272,000. Callan Family Office LLC purchased a new stake in Raymond James Financial in the second quarter valued at $401,000. Finally, CWM LLC boosted its stake in Raymond James Financial by 1.6% in the second quarter. CWM LLC now owns 28,043 shares of the financial services provider’s stock valued at $4,301,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 0.6%

Raymond James Financial stock opened at $157.64 on Friday. The stock has a 50 day moving average of $166.21 and a two-hundred day moving average of $164.97. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.18 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.54 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. JMP Securities raised their price objective on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Barclays initiated coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets lifted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and an average target price of $182.17.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.