Pacer Advisors Inc. Sells 3,305 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Pacer Advisors Inc. reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 22.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,325 shares of the financial services provider's stock after selling 3,305 shares during the period. Pacer Advisors Inc.'s holdings in Raymond James Financial were worth $1,573,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. FMR LLC increased its position in shares of Raymond James Financial by 2.2% during the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock worth $1,013,066,000 after acquiring an additional 137,277 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Raymond James Financial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock worth $680,378,000 after acquiring an additional 40,576 shares in the last quarter. Earnest Partners LLC increased its position in shares of Raymond James Financial by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock worth $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Invesco Ltd. increased its position in shares of Raymond James Financial by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock worth $378,276,000 after acquiring an additional 192,904 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Raymond James Financial by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock worth $324,390,000 after acquiring an additional 178,262 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of 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. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, 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 report on Monday, July 14th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $4.01 during midday trading on Friday, hitting $163.12. The company's stock had a trading volume of 960,869 shares, compared to its average volume of 1,082,543. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The company has a 50-day moving average price of $154.04 and a two-hundred day moving average price of $150.42. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.37 and a beta of 1.04.

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 18.50%. Raymond James Financial's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given 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 payout ratio is presently 19.61%.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial 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 sale, the insider directly owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

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.