Truist Financial Corp Sells 8,256 Shares of Raymond James Financial, Inc. $RJF

Truist Financial Corp lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,024 shares of the financial services provider’s stock after selling 8,256 shares during the period. Truist Financial Corp owned about 0.09% of Raymond James Financial worth $30,900,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RJF. Wealth Enhancement Advisory Services LLC boosted its position in Raymond James Financial by 14.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,601 shares of the financial services provider’s stock valued at $8,547,000 after buying an additional 6,379 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in Raymond James Financial during the 3rd quarter valued at about $622,000. Sequoia Financial Advisors LLC grew its position in Raymond James Financial by 78.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,750 shares of the financial services provider’s stock worth $882,000 after acquiring an additional 2,520 shares during the last quarter. Access Investment Management LLC bought a new position in Raymond James Financial during the 2nd quarter worth approximately $4,500,000. Finally, Archer Investment Corp purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $260,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by insiders.

Raymond James Financial Stock Down 0.4%

Shares of NYSE:RJF opened at $167.65 on Friday. The firm has a market capitalization of $33.11 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.32 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a 50 day moving average price of $164.29 and a 200-day moving average price of $164.63. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.54 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio is 20.99%.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of analyst reports. UBS Group set a $176.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research report on Thursday, January 22nd. BMO Capital Markets boosted their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, Barclays started coverage on Raymond James Financial in a research note on Wednesday. They issued an “overweight” rating and a $191.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $182.17.

Key Raymond James Financial News

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Record client assets and fee growth: RJF reported record client assets under administration of $1.77 trillion and record quarterly net revenues of $3.74B, driven by asset management and fee?based account growth — a durable, recurring?revenue tailwind. GlobeNewswire: Q1 results
• Positive Sentiment: Shareholder returns boosted: Board raised the quarterly dividend by 8%, repurchased $400M of stock in the quarter and authorized up to $2B of buybacks — supports EPS and signals management confidence. GlobeNewswire: buybacks & dividend
• Positive Sentiment: Analyst initiation: Barclays initiated coverage with an Overweight rating and a $191 price target, adding a near?term positive catalyst and indicating upside from current levels. Finviz: Barclays initiation
• Neutral Sentiment: EPS and revenue nuance: Adjusted EPS (ex?acquisition costs) printed around $2.86 (small beat vs. some estimates) while reported GAAP EPS was $2.79; revenue was up year?over?year but commentary and different providers show minor misses vs certain consensus prints. Zacks: earnings summary
• Neutral Sentiment: Management commentary & details available: The full earnings presentation and call transcript were released (useful for color on pipeline, acquisition integration and capital deployment). Seeking Alpha: call transcript
• Negative Sentiment: Capital?markets pressure: Capital Markets revenues declined sharply (investment banking down ~37% YoY; segment revenues down ~21% YoY and ~26% sequentially) — creates volatility and weighed on overall results. Zacks: IB weakness
• Negative Sentiment: Profitability and EPS pressure: Net income and GAAP EPS declined modestly year?over?year; some outlets flagged an EPS/revenue miss versus certain consensus estimates and rising costs tied to investments and acquisitions. QuiverQuant: EPS miss
• Negative Sentiment: Insider selling: Executives have sold shares recently (noted in filings), which can be a watch item for investors. QuiverQuant: insider activity

About Raymond James Financial

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.