Gulf International Bank UK Ltd Sells 4,604 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Gulf International Bank UK Ltd sold 4,604 shares of Raymond James Financial, Inc., reducing its position by 29.3% in the first quarter, leaving it with 11,131 shares valued at approximately $1.55 million.
• Analysts have raised their price targets for Raymond James Financial, with Morgan Stanley increasing it from $136 to $180, and a consensus rating of "Hold" with a target price of $163.80.
• Raymond James Financial reported a net margin of 13.56% and quarterly revenue growth of 5.3% year-over-year, despite missing EPS estimates by $0.18 in its latest quarterly results.

Gulf International Bank UK Ltd trimmed its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 29.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,131 shares of the financial services provider's stock after selling 4,604 shares during the period. Gulf International Bank UK Ltd's holdings in Raymond James Financial were worth $1,546,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. D.A. Davidson & CO. raised its position in Raymond James Financial by 3.6% during the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after purchasing an additional 197 shares during the last quarter. Golden State Wealth Management LLC raised its position in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Raymond James Financial during the 4th quarter worth $9,366,000. Assenagon Asset Management S.A. raised its position in Raymond James Financial by 13.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after purchasing an additional 3,035 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Raymond James Financial by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after purchasing an additional 3,691 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JMP Securities lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Finally, Cowen reissued a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Stock Performance

Shares of RJF opened at $164.76 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a 50-day moving average of $157.89 and a 200-day moving average of $150.29. The company has a market cap of $32.85 billion, a PE ratio of 16.15, a P/E/G ratio of 1.34 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.39 earnings per share. On average, equities research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Financial 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.

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