Raymond James Financial, Inc. $RJF Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Raymond James Financial by 13.5% in Q4, selling 9,362 shares and leaving it with 59,822 shares valued at about $9.61 million.
• Insider Bella Loykhter Allaire sold 29,551 shares on March 19 at an average price of $142.34 (≈$4.21 million), cutting her ownership by 35.54%.
• Raymond James beat quarterly EPS estimates ($2.83 vs. $2.76), reported revenue up 13.4% YoY, pays a quarterly dividend of $0.54 (annual yield ~1.4%), and has a market cap of about $30.8 billion with a P/E of 14.8.

US Bancorp DE reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,822 shares of the financial services provider's stock after selling 9,362 shares during the period. US Bancorp DE's holdings in Raymond James Financial were worth $9,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock worth $1,009,342,000 after buying an additional 230,871 shares during the period. First Trust Advisors LP lifted its stake in shares of Raymond James Financial by 4.5% during the third quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider's stock worth $448,332,000 after buying an additional 111,950 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Raymond James Financial by 10.7% during the third 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 period. Sei Investments Co. lifted its stake in shares of 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 buying an additional 25,018 shares during the period. Finally, UBS Group AG lifted its stake in shares of Raymond James Financial by 37.1% during the fourth quarter. UBS Group AG now owns 841,859 shares of the financial services provider's stock worth $135,194,000 after buying an additional 227,781 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James Financial 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 value of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company's stock.

Raymond James Financial Stock Down 1.3%

RJF opened at $156.33 on Friday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The company has a fifty day moving average of $149.65 and a two-hundred day moving average of $158.38. The stock has a market capitalization of $30.81 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.20 and a beta of 0.99.

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 analysts' consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 18.01%. The company had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the company earned $2.42 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial's payout ratio is presently 20.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RJF shares. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Barclays reiterated an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. TD Cowen reiterated a "hold" rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley lifted their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and a consensus target price of $173.25.

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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