Peterson Wealth Services Has $8.42 Million Stock Position in Raymond James Financial, Inc. (NYSE:RJF)

Peterson Wealth Services lowered its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,598 shares of the financial services provider's stock after selling 5,143 shares during the quarter. Raymond James Financial accounts for approximately 2.6% of Peterson Wealth Services' holdings, making the stock its 9th biggest holding. Peterson Wealth Services' holdings in Raymond James Financial were worth $8,418,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in shares of Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after buying an additional 197 shares in the last quarter. Golden State Wealth Management LLC raised its stake 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 buying an additional 123 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Raymond James Financial in the fourth quarter valued at about $9,366,000. Assenagon Asset Management S.A. increased its position in shares of Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after acquiring an additional 3,035 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after acquiring an additional 3,691 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Transactions at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the firm's 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 transaction, the insider directly owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction on 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 directly owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. Wells Fargo & Company increased their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. The Goldman Sachs Group reduced their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. JMP Securities upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and a consensus price target of $162.40.

Raymond James Financial Price Performance

NYSE:RJF traded down $1.22 during trading hours on Monday, hitting $159.44. 1,125,696 shares of the company's stock traded hands, compared to its average volume of 1,286,709. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $151.57 and its two-hundred day simple moving average is $149.83. Raymond James Financial, Inc. has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a market cap of $32.17 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.33 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.25%.

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.