Raymond James Financial, Inc. $RJF Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Raymond James by 4.6% in Q4, selling 21,633 shares and leaving 449,099 shares worth about $72.12 million (≈0.23% of the company).
• Insider sale: Bella Loykhter Allaire sold 29,551 shares on March 19 for roughly $4.21 million, cutting her holding by 35.54%; corporate insiders now own about 0.58% of the stock.
• Mixed analyst and financial picture: the stock carries an average "Hold" rating with a $175.58 target, the company beat Q4 EPS estimates ($2.86 vs. $2.83) but missed revenue, and declared a $0.54 quarterly dividend (1.4% yield).

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 449,099 shares of the financial services provider's stock after selling 21,633 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Raymond James Financial worth $72,121,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the fourth quarter worth $32,000. Quent Capital LLC purchased a new stake in shares of Raymond James Financial during the third quarter worth $33,000. Finally, Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial during the third quarter worth $33,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TD Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Morgan Stanley dropped their price objective on Raymond James Financial from $187.00 to $171.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. 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 dropped their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Finally, UBS Group reduced their price objective 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, April 8th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $175.58.

Raymond James Financial Stock Up 1.9%

Shares of Raymond James Financial stock opened at $153.27 on Wednesday. Raymond James Financial, Inc. has a 12-month low of $129.47 and a 12-month high of $177.66. 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 50 day moving average price of $151.68 and a two-hundred day moving average price of $159.35. The stock has a market capitalization of $30.21 billion, a P/E ratio of 15.00, a PEG ratio of 1.14 and a beta of 1.00.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 earnings per share. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial's dividend payout ratio (DPR) is 21.14%.

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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