Raymond James Financial, Inc. $RJF Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Raymond James Financial by 23.6%, now holding 367,589 shares worth $51 million after selling 113,359 shares in the first quarter.
• Raymond James Financial reported EPS of $2.18 for the most recent quarter, missing estimates, although revenue increased by 5.3% year-over-year to $3.40 billion.
• The company announced a quarterly dividend of $0.50, scheduled to be paid on October 15th, reflecting a 1.2% yield and a payout ratio of 19.61%.

Price T Rowe Associates Inc. MD lowered its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,589 shares of the financial services provider's stock after selling 113,359 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.18% of Raymond James Financial worth $51,063,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after buying an additional 197 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings 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 worth $28,000 after buying an additional 123 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Raymond James Financial in the 4th quarter worth $9,366,000. Assenagon Asset Management S.A. lifted its holdings in Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after buying an additional 3,035 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after buying an additional 3,691 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Price Performance

NYSE RJF opened at $167.87 on Wednesday. Raymond James Financial, Inc. has a 52 week low of $113.91 and a 52 week high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. The company has a 50-day moving average price of $160.63 and a two-hundred day moving average price of $149.95.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $2.39 EPS. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, JMP Securities upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of "Hold" and an average price target of $163.80.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.

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.

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