Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Raymond James Financial, Inc. by 69.1% during the 1st quarter, selling 41,681 shares and leaving it with 18,617 shares valued at approximately $2.58 million.
• Analysts have recently raised their price targets for Raymond James Financial, with JPMorgan now at $172.00 and Morgan Stanley at $180.00, indicating positive outlooks for the company's stock.
• The company declared a quarterly dividend of $0.50 per share, representing a 1.2% yield, while maintaining a dividend payout ratio of 19.61%.

Jefferies Financial Group Inc. trimmed its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 69.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,617 shares of the financial services provider's stock after selling 41,681 shares during the period. Jefferies Financial Group Inc.'s holdings in Raymond James Financial were worth $2,586,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the 1st quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC boosted its position 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 buying an additional 123 shares during the period. Olde Wealth Management LLC purchased a new stake in Raymond James Financial in the 1st quarter valued at about $33,000. Finally, TCTC Holdings LLC boosted its position in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on RJF. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $163.80.

Insider Transactions at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company's stock.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $0.25 during mid-day trading on Tuesday, reaching $166.24. 41,622 shares of the company traded hands, compared to its average volume of 1,340,074. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a fifty-two week low of $105.35 and a fifty-two week high of $174.32. The company has a market capitalization of $33.54 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The firm's fifty day moving average is $154.81 and its two-hundred day moving average is $150.28.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company posted $2.39 EPS. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

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.