Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,242 shares of the financial services provider's stock after selling 37,147 shares during the period. Los Angeles Capital Management LLC owned about 0.12% of Raymond James Financial worth $35,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in Raymond James Financial by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after purchasing an additional 137,277 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Raymond James Financial by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock worth $680,378,000 after buying an additional 40,576 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Raymond James Financial by 1.0% in the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock worth $393,554,000 after buying an additional 24,195 shares during the last quarter. Invesco Ltd. boosted its stake in Raymond James Financial by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock valued at $378,276,000 after purchasing an additional 192,904 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock valued at $324,390,000 after purchasing an additional 178,262 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RJF shares. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a report on Wednesday, April 30th. Morgan Stanley raised their price target on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. JMP Securities raised their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $143.00 to $151.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and a consensus price target of $162.40.

Insider Activity at Raymond James Financial

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 value of $963,227.70. Following the sale, the insider owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial 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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Raymond James Financial Price Performance

Shares of RJF traded down $1.22 during mid-day trading on Monday, hitting $159.44. 1,125,696 shares of the company were exchanged, compared to its average volume of 1,286,709. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The company has a 50 day moving average of $151.57 and a 200-day moving average of $149.83. The stock has a market cap of $32.17 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 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 business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The firm's revenue was up 9.0% on a year-over-year basis. Analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James Financial's dividend payout ratio is presently 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.