Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Center for Financial Planning Inc.

Center for Financial Planning Inc. decreased its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,531 shares of the financial services provider's stock after selling 2,575 shares during the period. Raymond James Financial accounts for 0.3% of Center for Financial Planning Inc.'s investment portfolio, making the stock its 23rd largest holding. Center for Financial Planning Inc.'s holdings in Raymond James Financial were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in Raymond James Financial during the 4th quarter worth $294,647,000. Raymond James Financial Inc. purchased a new position in Raymond James Financial during the 4th quarter worth $105,701,000. GAMMA Investing LLC grew its position in Raymond James Financial by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after purchasing an additional 672,164 shares during the last quarter. Select Equity Group L.P. purchased a new position in Raymond James Financial during the 4th quarter worth $81,611,000. Finally, PNC Financial Services Group Inc. grew its position in Raymond James Financial by 433.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock worth $88,144,000 after purchasing an additional 461,069 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. Wells Fargo & Company lowered their price objective 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. Morgan Stanley raised their price objective on shares of Raymond James Financial from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Bank of America cut shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, Citigroup reduced their target price on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $153.82.

Insider Buying and Selling at Raymond James Financial

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

Raymond James Financial Stock Performance

Shares of RJF opened at $148.92 on Friday. The company has a 50-day simple moving average of $144.10 and a 200-day simple moving average of $150.09. 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 company has a market capitalization of $30.05 billion, a PE ratio of 14.33, a P/E/G ratio of 1.79 and a beta of 1.03. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly 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 company 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%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. Raymond James Financial's dividend payout ratio is presently 19.25%.

About Raymond James Financial

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.

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