Truist Financial Corp Cuts Position in Raymond James Financial, Inc. $RJF

Key Points

• Truist Financial Corp cut its position in Raymond James by 13.6% in Q4, selling 24,403 shares and retaining 154,621 shares valued at about $24.83 million (roughly 0.08% ownership).
• Raymond James beat EPS estimates with $2.83 versus $2.76 consensus but missed revenue expectations ($3.86B vs. $3.92B); revenue was up 13.4% year‑over‑year and the firm reported an ROE of 18.01% and a net margin of 13.04%.
• Analysts made mixed target changes—some raised targets while others cut—but the street consensus is an average rating of "Hold" with an average price target of $173.25.

Truist Financial Corp decreased its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,621 shares of the financial services provider's stock after selling 24,403 shares during the quarter. Truist Financial Corp owned 0.08% of Raymond James Financial worth $24,831,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter worth $33,000. Anfield Capital Management LLC purchased a new position in Raymond James Financial in the third quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the fourth quarter valued at $32,000. Harbor Investment Advisory LLC raised its stake in 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 buying an additional 172 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in 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 buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RJF. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets raised their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research report on Thursday, April 23rd. Jefferies Financial Group decreased their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. UBS Group reaffirmed 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. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $173.25.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $159.64 on Thursday. The stock's 50-day moving average is $149.80 and its two-hundred day moving average is $158.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.22 and a beta of 0.99.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results 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. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 EPS. Analysts predict 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 paid a $0.54 dividend. The ex-dividend date 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 currently 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.58% of the company's stock.

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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