Bessemer Group Inc. Sells 16,873 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Bessemer Group Inc. decreased its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 83.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,295 shares of the financial services provider's stock after selling 16,873 shares during the period. Bessemer Group Inc.'s holdings in Raymond James Financial were worth $458,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $294,647,000. Raymond James Financial Inc. bought a new stake in shares of Raymond James Financial in the fourth quarter valued at $105,701,000. GAMMA Investing LLC raised its stake in shares of Raymond James Financial by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after buying an additional 672,164 shares during the period. Select Equity Group L.P. bought a new stake in shares of Raymond James Financial in the fourth quarter valued at $81,611,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Raymond James Financial by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after buying an additional 461,069 shares during the period. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

RJF traded up $1.70 during trading on Friday, reaching $159.88. The stock had a trading volume of 599,865 shares, compared to its average volume of 1,331,322. The stock has a market cap of $32.26 billion, a PE ratio of 15.39, a PEG ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a one year low of $104.24 and a one year high of $174.32. The business has a 50-day moving average of $148.07 and a 200-day moving average of $149.68.

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

Raymond James Financial Dividend Announcement

The company 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's dividend payout ratio is 19.25%.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated 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 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 accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider directly owned 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RJF. Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price target on shares of 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. Citigroup lowered their price target on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group lowered 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. Finally, Bank of America cut shares of 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. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued 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.