Raymond James Financial, Inc. $RJF Shares Sold by Carl Stuart Investment Advisor Inc.

Key Points

• Carl Stuart Investment Advisor Inc. cut its Raymond James Financial stake by 32.9% in the fourth quarter, selling 9,360 shares and leaving it with 19,115 shares valued at about $3.07 million.
• Wall Street sentiment is mixed: analysts recently adjusted price targets, and the stock currently carries an average rating of “Hold” with an average target of $172.92.
• Raymond James Financial reported strong quarterly earnings of $2.83 per share, beating expectations, and announced a quarterly dividend of $0.54 per share, equal to a 1.4% annual yield.

Carl Stuart Investment Advisor Inc. decreased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 32.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,115 shares of the financial services provider's stock after selling 9,360 shares during the period. Raymond James Financial comprises 2.8% of Carl Stuart Investment Advisor Inc.'s portfolio, making the stock its 4th biggest position. Carl Stuart Investment Advisor Inc.'s holdings in Raymond James Financial were worth $3,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RJF. Empowered Funds LLC increased its holdings in shares of Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after buying an additional 314 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock worth $2,164,000 after buying an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Raymond James Financial by 137.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock worth $182,000 after buying an additional 685 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock worth $348,000 after buying an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Raymond James Financial during the second quarter worth approximately $363,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets raised their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a report on Thursday, April 23rd. UBS Group reissued a "neutral" rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. TD Cowen lowered their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial has an average rating of "Hold" and an average price target of $172.92.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company's stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Trading Up 2.5%

Shares of NYSE RJF opened at $154.25 on Friday. The company's fifty day moving average is $151.05 and its 200-day moving average is $156.53. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.19 and a beta of 0.94. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. Equities research analysts predict that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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