TD Asset Management Inc Decreases Stock Holdings in Raymond James Financial, Inc. $RJF

Key Points

• TD Asset Management reduced its stake in Raymond James Financial by 5.3% in the fourth quarter, selling 17,190 shares and leaving it with 306,848 shares valued at about $49.3 million.
• Insider Bella Loykhter Allaire sold 29,551 shares on March 19 for about $4.2 million, trimming her holdings by 35.5%.
• Raymond James Financial reported Q2 earnings of $2.83 per share, beating estimates, while analysts currently rate the stock a consensus "Hold" with an average price target of $172.92.

TD Asset Management Inc decreased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,848 shares of the financial services provider's stock after selling 17,190 shares during the quarter. TD Asset Management Inc owned about 0.16% of Raymond James Financial worth $49,277,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at $32,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial in the third quarter valued at $33,000. Harbor Investment Advisory LLC raised its stake in shares of Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 172 shares during the period. Salomon & Ludwin LLC raised its stake in shares of Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

RJF has been the topic of several recent analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group cut their price target 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 restated a "neutral" rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley upped their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets upped their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and an average price target of $172.92.

Raymond James Financial Stock Up 0.6%

Shares of Raymond James Financial stock opened at $151.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The firm's 50-day moving average is $150.20 and its two-hundred day moving average is $156.64. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.94.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the business earned $2.42 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued 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 is Wednesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

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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