Vest Financial LLC Decreases Stock Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Vest Financial LLC trimmed its stake by 20.1% in Raymond James Financial during Q4, selling 59,814 shares and ending the period with 238,274 shares (about 0.12% of the company) valued at roughly $38.26 million.
• Raymond James beat EPS estimates in the latest quarter with $2.83 vs. $2.76 consensus, while revenue came in at $3.86 billion (slightly below estimates) but was up 13.4% year‑over‑year.
• The company pays a $0.54 quarterly dividend (annualized $2.16, ~1.4% yield), has ~83.8% institutional ownership, and analysts' consensus is a "Hold" with an average target price of $173.17.

Vest Financial LLC trimmed its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,274 shares of the financial services provider's stock after selling 59,814 shares during the period. Vest Financial LLC owned approximately 0.12% of Raymond James Financial worth $38,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC raised its holdings in shares of Raymond James Financial by 40.8% during the 4th quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider's stock worth $3,971,000 after acquiring an additional 7,164 shares in the last quarter. Certuity LLC raised its holdings in shares of Raymond James Financial by 11.6% during the 4th quarter. Certuity LLC now owns 1,809 shares of the financial services provider's stock worth $291,000 after acquiring an additional 188 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $72,000. M&T Bank Corp raised its holdings in shares of Raymond James Financial by 17.9% during the 4th quarter. M&T Bank Corp now owns 13,192 shares of the financial services provider's stock worth $2,118,000 after acquiring an additional 2,005 shares in the last quarter. Finally, Anchyra Partners LLC purchased a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $440,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

NYSE:RJF opened at $154.44 on Tuesday. The stock's fifty day moving average is $149.80 and its 200 day moving average is $158.44. Raymond James Financial, Inc. has a fifty-two week low of $133.89 and a fifty-two week high of $177.66. The firm has a market capitalization of $30.44 billion, a PE ratio of 14.60, a PEG ratio of 1.19 and a beta of 1.00. 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 (NYSE:RJF - Get Free Report) last released its quarterly 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. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. Raymond James Financial's quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.68 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is presently 20.42%.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction 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 sale, the insider 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 SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RJF shares. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday. Morgan Stanley decreased their price target 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. BMO Capital Markets increased their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a report on Thursday, April 23rd. Jefferies Financial Group decreased their price target on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Finally, TD Cowen restated a "hold" rating and set a $159.00 price target (up from $156.00) on shares of Raymond James Financial in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and an average target price of $173.17.

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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