Raymond James Financial, Inc. $RJF Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,551,369 shares of the financial services provider’s stock after selling 10,508 shares during the period. Geode Capital Management LLC’s holdings in Raymond James Financial were worth $727,913,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Harbor Investment Advisory LLC lifted its stake in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Price Performance

RJF opened at $143.30 on Friday. The stock’s 50-day moving average price is $149.83 and its 200 day moving average price is $157.13. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.10 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $2.42 EPS. Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent analyst reports. TD Cowen decreased their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reaffirmed a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group decreased their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $172.92.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

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.