NBW Capital LLC Sells 8,132 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• NBW Capital LLC reduced its stake in Raymond James Financial by 23.4%, holding 26,574 shares valued at approximately $3.69 million after selling 8,132 shares during the first quarter.
• Raymond James Financial's stock recently reported a 2.3% decline and its quarterly earnings missed expectations with an EPS of $2.18 against a consensus of $2.36.
• The company announced a quarterly dividend of $0.50 per share, representing an annualized yield of 1.2% and a payout ratio of 19.61%.

NBW Capital LLC cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 23.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,574 shares of the financial services provider's stock after selling 8,132 shares during the quarter. NBW Capital LLC's holdings in Raymond James Financial were worth $3,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 1st quarter valued at $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC grew its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new position in Raymond James Financial during the first quarter valued at about $33,000. Finally, TCTC Holdings LLC grew its position in Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Raymond James Financial Stock Up 1.2%

Raymond James Financial stock traded up $1.91 during mid-day trading on Friday, hitting $164.90. The company had a trading volume of 659,500 shares, compared to its average volume of 1,089,434. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a 1 year low of $108.49 and a 1 year high of $174.32. The business has a fifty day moving average of $156.26 and a 200 day moving average of $150.30. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

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

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.61%.

Insider Buying and Selling at Raymond James Financial

In related 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 transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.54% of the company's stock.

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.