Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC cut its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,904 shares of the financial services provider's stock after selling 5,407 shares during the period. CWA Asset Management Group LLC's holdings in Raymond James Financial were worth $8,877,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cardinal Capital Management increased its holdings in Raymond James Financial by 0.8% during the 1st quarter. Cardinal Capital Management now owns 32,219 shares of the financial services provider's stock worth $4,476,000 after purchasing an additional 262 shares during the period. Signature Wealth Management Group increased its stake in shares of Raymond James Financial by 2.2% during the first quarter. Signature Wealth Management Group now owns 5,565 shares of the financial services provider's stock valued at $773,000 after buying an additional 120 shares during the period. QRG Capital Management Inc. increased its stake in shares of Raymond James Financial by 0.8% during the first quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider's stock valued at $1,752,000 after buying an additional 103 shares during the period. Sagespring Wealth Partners LLC raised its holdings in shares of Raymond James Financial by 21.9% in the first quarter. Sagespring Wealth Partners LLC now owns 1,933 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 347 shares in the last quarter. Finally, Great Lakes Retirement Inc. lifted its stake in Raymond James Financial by 4.4% in the first quarter. Great Lakes Retirement Inc. now owns 3,054 shares of the financial services provider's stock worth $424,000 after acquiring an additional 129 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on RJF. JPMorgan Chase & Co. cut their target price on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and set a $175.00 price objective on shares of Raymond James Financial in a report on Thursday, April 24th. Citigroup reduced their price objective on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and an average price target of $153.82.

Insider Transactions at Raymond James Financial

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

Raymond James Financial Stock Up 0.4%

NYSE:RJF traded up $0.65 during mid-day trading on Thursday, hitting $148.22. 937,290 shares of the company's stock traded hands, compared to its average volume of 1,323,481. The company has a fifty day moving average of $143.82 and a 200 day moving average of $150.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a market capitalization of $29.90 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.78 and a beta of 1.03.

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

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Raymond James Financial's dividend payout ratio is currently 19.25%.

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.