Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Barnes Pettey Financial Advisors LLC

Barnes Pettey Financial Advisors LLC cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 52.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,694 shares of the financial services provider's stock after selling 12,770 shares during the quarter. Raymond James Financial comprises about 1.3% of Barnes Pettey Financial Advisors LLC's investment portfolio, making the stock its 19th largest position. Barnes Pettey Financial Advisors LLC's holdings in Raymond James Financial were worth $1,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the 1st quarter worth $25,000. TCTC Holdings LLC grew its stake in shares of Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial during the 1st quarter worth $27,000. Golden State Wealth Management LLC grew its stake in 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 valued at $28,000 after acquiring an additional 123 shares during the last quarter. Finally, Plato Investment Management Ltd grew its stake in Raymond James Financial by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Citigroup lowered their price objective on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. JMP Securities reissued a "market outperform" rating and issued a $175.00 price objective on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Raymond James Financial from $149.00 to $161.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $153.82.

Insider Transactions at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the 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 transaction, the insider now directly owns 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now owns 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. Insiders own 0.54% of the company's stock.

Raymond James Financial Trading Up 0.4%

NYSE:RJF traded up $0.63 on Friday, reaching $153.24. The stock had a trading volume of 1,843,937 shares, compared to its average volume of 1,327,614. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.03. 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 firm's fifty day moving average is $145.87 and its two-hundred day moving average is $149.80. Raymond James Financial, Inc. has a 12-month low of $104.24 and a 12-month high of $174.32.

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

Raymond James Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. Raymond James Financial's payout ratio is currently 19.25%.

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.