Raymond James Financial, Inc. $RJF Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in Raymond James Financial (NYSE:RJF) by 12.5% in Q4, selling 15,300 shares and leaving it with 107,028 shares valued at about $17.19 million.
• Insider Bella Loykhter Allaire sold 29,551 shares at an average $142.34 (≈$4.21 million), cutting her position by 35.54%, while institutional investors collectively own 83.83% of RJF.
• Raymond James reported quarterly EPS of $2.83 (beating the $2.76 estimate) with revenue up 13.4% year‑over‑year but slightly under forecasts; analysts' consensus rating is a Hold with a $173.25 price target.

Pictet Asset Management Holding SA lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,028 shares of the financial services provider's stock after selling 15,300 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of Raymond James Financial worth $17,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RJF. JPMorgan Chase & Co. raised its stake in Raymond James Financial by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock worth $1,009,342,000 after acquiring an additional 230,871 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Raymond James Financial by 4.5% in the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider's stock valued at $448,332,000 after purchasing an additional 111,950 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Raymond James Financial by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider's stock worth $406,941,000 after buying an additional 227,337 shares during the last quarter. Sei Investments Co. raised its holdings in Raymond James Financial by 2.8% during the third quarter. Sei Investments Co. now owns 932,602 shares of the financial services provider's stock worth $160,968,000 after purchasing an additional 25,018 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Raymond James Financial by 37.1% in the fourth quarter. UBS Group AG now owns 841,859 shares of the financial services provider's stock valued at $135,194,000 after acquiring an additional 227,781 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of analyst reports. Barclays reiterated an "overweight" rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. TD Cowen reaffirmed a "hold" rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley increased their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group restated a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Jefferies Financial Group lowered their price objective on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and a consensus price target of $173.25.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

Raymond James Financial Price Performance

RJF stock opened at $156.33 on Friday. The company has a market cap of $30.81 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $149.65 and a two-hundred day moving average price of $158.39. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $2.42 EPS. The company's revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

Raymond James Financial 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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