KBC Group NV Sells 171,244 Shares of Raymond James Financial, Inc. (NYSE:RJF)

KBC Group NV decreased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 48.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 183,445 shares of the financial services provider's stock after selling 171,244 shares during the period. KBC Group NV owned 0.09% of Raymond James Financial worth $25,482,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Formidable Asset Management LLC increased its holdings in shares of Raymond James Financial by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 67 shares during the last quarter. Keybank National Association OH grew its holdings in Raymond James Financial by 0.7% in the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock valued at $1,747,000 after buying an additional 76 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after buying an additional 82 shares during the last quarter. Private Trust Co. NA grew its holdings in Raymond James Financial by 23.9% in the 4th quarter. Private Trust Co. NA now owns 487 shares of the financial services provider's stock valued at $76,000 after buying an additional 94 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Raymond James Financial by 3.6% in the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction 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 represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction that occurred 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 transaction, the insider owned 78,227 shares in the company, valued at $10,677,203.23. This 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.

Raymond James Financial Price Performance

NYSE RJF traded up $1.21 during trading on Tuesday, reaching $154.58. 919,456 shares of the company traded hands, compared to its average volume of 1,323,888. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock's 50 day moving average price is $146.32 and its two-hundred day moving average price is $149.59. The company has a market cap of $31.19 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.84 and a beta of 1.03. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 earnings per share. As a group, analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's payout ratio is presently 19.25%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of research analyst reports. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $175.00 price objective on shares of Raymond James Financial in a research report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $153.82.

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.