Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 26.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,109 shares of the financial services provider's stock after selling 6,259 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Raymond James Financial were worth $2,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Raymond James Financial in the 4th quarter valued at approximately $294,647,000. Raymond James Financial Inc. purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $105,701,000. GAMMA Investing LLC grew its holdings in Raymond James Financial by 25,259.8% during the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. acquired a new position in Raymond James Financial during the fourth quarter worth $81,611,000. Finally, PNC Financial Services Group Inc. raised its position in 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 worth $88,144,000 after acquiring an additional 461,069 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $148.92 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a market capitalization of $30.05 billion, a P/E ratio of 14.33, a PEG ratio of 1.79 and a beta of 1.03. The business's fifty day moving average price is $144.10 and its 200 day moving average price is $149.98.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data 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). 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 analysts' expectations of $3.46 billion. During the same quarter in the prior year, the business earned $2.31 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Raymond James Financial's dividend payout ratio (DPR) is 19.25%.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction 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 sale, the insider now owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on 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. The Goldman Sachs Group decreased their target price on 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. Citigroup lowered their target price on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $175.00 price target on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $153.82.

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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