Crossmark Global Holdings Inc. Has $3.26 Million Position in Raymond James Financial, Inc. (NYSE:RJF)

Crossmark Global Holdings Inc. lifted its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,454 shares of the financial services provider's stock after purchasing an additional 4,930 shares during the period. Crossmark Global Holdings Inc.'s holdings in Raymond James Financial were worth $3,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Formidable Asset Management LLC grew its stake in shares of Raymond James Financial by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock worth $1,227,000 after purchasing an additional 67 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after acquiring an additional 82 shares in the last quarter. Brighton Jones LLC increased its position in shares of Raymond James Financial by 3.6% in the first quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock worth $398,000 after acquiring an additional 100 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Raymond James Financial by 0.8% in the first quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider's stock worth $1,752,000 after acquiring an additional 103 shares in the last quarter. Finally, TCTC Holdings LLC increased its position in shares of Raymond James Financial by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Down 1.1%

RJF stock traded down $1.71 during trading hours on Friday, hitting $158.49. The company's stock had a trading volume of 1,050,932 shares, compared to its average volume of 1,327,669. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The stock has a 50 day moving average price of $149.75 and a two-hundred day moving average price of $149.83. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $31.98 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Raymond James Financial's payout ratio is presently 19.25%.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider directly owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday. Cowen reissued a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Raymond James Financial from $143.00 to $151.00 and gave the company a "neutral" rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $160.00.

Raymond James Financial Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.