Raymond James Financial, Inc. $RJF Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 52.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,452 shares of the financial services provider’s stock after selling 276,848 shares during the quarter. Raymond James Financial accounts for about 1.8% of Premier Fund Managers Ltd’s holdings, making the stock its 23rd biggest holding. Premier Fund Managers Ltd’s holdings in Raymond James Financial were worth $44,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Intrust Bank NA lifted its holdings in shares of Raymond James Financial by 1.2% in the 3rd quarter. Intrust Bank NA now owns 6,040 shares of the financial services provider’s stock worth $1,043,000 after acquiring an additional 74 shares during the last quarter. Advyzon Investment Management LLC purchased a new stake in Raymond James Financial in the third quarter valued at approximately $203,000. Citigroup Inc. lifted its stake in Raymond James Financial by 2.1% during the third quarter. Citigroup Inc. now owns 375,569 shares of the financial services provider’s stock worth $64,823,000 after purchasing an additional 7,558 shares in the last quarter. Tredje AP fonden lifted its stake in Raymond James Financial by 9.3% during the third quarter. Tredje AP fonden now owns 18,837 shares of the financial services provider’s stock worth $3,251,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Raymond James Financial during the third quarter worth $259,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on RJF. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Bank of America lifted their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Barclays assumed coverage on shares of 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. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Finally, Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Stock Performance

Shares of RJF opened at $158.15 on Friday. The stock has a 50-day simple moving average of $165.53 and a 200-day simple moving average of $164.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The stock has a market capitalization of $31.17 billion, a PE ratio of 15.47, a PEG ratio of 1.17 and a beta of 1.00. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66.

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

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on 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 completion of the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Raymond James Financial Company 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.