Raymond James Financial, Inc. $RJF Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services trimmed its stake in Raymond James by 3.8%, selling 75,435 shares and leaving it with 1,931,920 shares (about 0.98%) valued at roughly $310.25 million at quarter-end.
• Insider sale: Bella Loykhter Allaire sold 29,551 shares at an average $142.34 for about $4.21 million, a 35.54% reduction in her holding (insiders own ~0.58% of the stock).
• Company outlook and payout: Raymond James declared a $0.54 quarterly dividend (annualized $2.16, 1.5% yield; ex-dividend Apr 1, payable Apr 15) and recently reported an EPS beat ($2.86 vs. $2.83) while revenue slightly missed estimates; the stock trades at a P/E of ~14.3 with a market cap near $28.8 billion.

Massachusetts Financial Services Co. MA reduced its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,931,920 shares of the financial services provider's stock after selling 75,435 shares during the period. Massachusetts Financial Services Co. MA owned about 0.98% of Raymond James Financial worth $310,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management increased its position in shares of Raymond James Financial by 43.9% during the fourth quarter. OFI Invest Asset Management now owns 1,229 shares of the financial services provider's stock worth $197,000 after acquiring an additional 375 shares during the period. First United Bank & Trust grew its stake in Raymond James Financial by 16.7% during the 4th quarter. First United Bank & Trust now owns 2,130 shares of the financial services provider's stock worth $342,000 after purchasing an additional 305 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in Raymond James Financial by 36.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 4,920 shares of the financial services provider's stock worth $790,000 after purchasing an additional 1,317 shares in the last quarter. Signaturefd LLC increased its holdings in Raymond James Financial by 1.9% during the 4th quarter. Signaturefd LLC now owns 8,535 shares of the financial services provider's stock worth $1,371,000 after purchasing an additional 157 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company's stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.

Raymond James Financial Price Performance

RJF stock opened at $146.21 on Friday. The business has a 50 day moving average price of $152.28 and a 200 day moving average price of $159.75. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a market cap of $28.82 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.10 and a beta of 1.00. Raymond James Financial, Inc. has a fifty-two week low of $129.47 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.93 earnings per share. Equities research analysts anticipate 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 will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 21.14%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RJF. TD Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Jefferies Financial Group reduced their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. UBS Group decreased their price target on shares of Raymond James Financial from $176.00 to $158.00 and set a "neutral" rating for the company in a research note on Wednesday. Barclays lowered their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and an average price target of $175.58.

About Raymond James Financial

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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