TD Asset Management Inc Sells 53,350 Shares of Raymond James Financial, Inc. $RJF

TD Asset Management Inc decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 324,038 shares of the financial services provider’s stock after selling 53,350 shares during the period. TD Asset Management Inc owned about 0.16% of Raymond James Financial worth $55,929,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock worth $10,390,000 after buying an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Raymond James Financial by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after acquiring an additional 6,953 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Raymond James Financial by 2,000.9% during the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Raymond James Financial by 24.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after acquiring an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Raymond James Financial in the third quarter valued at about $1,487,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RJF. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Bank of America boosted their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Barclays started coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price on the stock. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, TD Cowen restated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.17.

Insider Activity at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the sale, the insider owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.8%

Raymond James Financial stock opened at $159.68 on Friday. 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 50-day simple moving average of $165.14 and a 200 day simple moving average of $164.39. The stock has a market capitalization of $31.47 billion, a P/E ratio of 15.62, a PEG ratio of 1.17 and a beta of 1.00. 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 posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating 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 company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

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.