Hantz Financial Services Inc. Sells 8,134 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Hantz Financial Services cut its Raymond James Financial stake by 11.8% in the fourth quarter, selling 8,134 shares and leaving it with 60,907 shares valued at about $9.78 million.
• Raymond James Financial reported strong quarterly results, with earnings of $2.83 per share topping estimates, while revenue rose 13.4% year over year to $3.86 billion.
• The company announced a quarterly dividend of $0.54 per share, and analysts currently rate the stock a consensus "Hold" with an average price target of $173.25.

Hantz Financial Services Inc. reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,907 shares of the financial services provider's stock after selling 8,134 shares during the quarter. Hantz Financial Services Inc.'s holdings in Raymond James Financial were worth $9,781,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. increased its stake in Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after acquiring an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased its stake in Raymond James Financial by 0.6% during the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider's stock worth $1,763,000 after acquiring an additional 62 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in Raymond James Financial by 2.5% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock worth $447,000 after acquiring an additional 68 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its stake in Raymond James Financial by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock worth $892,000 after acquiring an additional 68 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Up 0.0%

Shares of NYSE:RJF opened at $151.48 on Monday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The business has a 50 day simple moving average of $149.56 and a two-hundred day simple moving average of $157.58. The firm has a market capitalization of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial's payout ratio is presently 20.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on RJF. UBS Group restated a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays restated an "overweight" rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. TD Cowen restated a "hold" rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group dropped their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has a consensus rating of "Hold" and an average price target of $173.25.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.