Bank Julius Baer & Co. Ltd Zurich Cuts Position in Raymond James Financial, Inc. $RJF

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 13.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,026 shares of the financial services provider’s stock after selling 3,479 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Raymond James Financial were worth $3,739,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RJF. Empowered Funds LLC raised its holdings in shares of Raymond James Financial by 8.2% in the 1st 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 during the period. Woodline Partners LP raised its holdings 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 worth $2,164,000 after purchasing an additional 4,592 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 685 shares during the period. Brown Advisory Inc. raised its holdings in shares of Raymond James Financial by 15.1% in the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Raymond James Financial in the 2nd quarter worth about $363,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $154.28 on Friday. The company has a market cap of $30.07 billion, a P/E ratio of 14.58, a PEG ratio of 1.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The business’s 50-day simple moving average is $149.50 and its 200 day simple moving average is $157.84.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s payout ratio is currently 20.42%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction that occurred on 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 sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen reiterated a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Jefferies Financial Group dropped their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $173.25.

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.