Vanguard Group Inc. Sells 133,418 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Vanguard Group Inc. sold 133,418 shares of Raymond James, trimming its position by 0.6% to 21,749,721 shares (11.01% ownership) valued at about $3.493 billion at quarter-end.
• Q1 results: Raymond James reported EPS of $2.83, beating estimates of $2.76, with revenue of $3.86 billion (slightly below estimates) and revenue up 13.4% year-over-year; the company paid a $0.54 quarterly dividend ($2.16 annual, ~1.4% yield).
• Analyst sentiment is a consensus "Hold" with a $173.25 target; the stock trades with a market cap of $30.68 billion and a P/E of 14.71, in a 12‑month range of $133.89–$177.66.

Vanguard Group Inc. decreased its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,749,721 shares of the financial services provider's stock after selling 133,418 shares during the period. Vanguard Group Inc. owned 11.01% of Raymond James Financial worth $3,492,788,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. boosted its holdings in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC boosted its holdings in Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider's stock valued at $1,763,000 after acquiring an additional 62 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Raymond James Financial by 2.0% in the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider's stock valued at $563,000 after acquiring an additional 65 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings 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 acquiring an additional 65 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its holdings in Raymond James Financial by 2.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Up 0.9%

RJF stock opened at $155.67 on Wednesday. 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 business has a 50 day moving average price of $149.76 and a two-hundred day moving average price of $158.41. The company has a market cap of $30.68 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.19 and a beta of 1.00. Raymond James Financial, Inc. has a twelve month low of $133.89 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results 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. The firm 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 revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. Analysts anticipate that Raymond James Financial, Inc. will post 11.73 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

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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