Wellington Management Group LLP Has $1.56 Billion Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• Wellington Management cut its stake in Raymond James by 5.8% to 9,018,292 shares, leaving it with about $1.56 billion of stock (≈4.52% ownership) at the end of the quarter.
• Raymond James reported EPS of $2.86, beating estimates by $0.03, while revenue of $3.74 billion fell short of analysts' expectations.
• The company declared a quarterly dividend of $0.54 per share (annualized $2.16) with an ex-dividend date of April 1 and a yield of about 1.5%.

Wellington Management Group LLP lowered its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,018,292 shares of the financial services provider's stock after selling 550,333 shares during the quarter. Wellington Management Group LLP owned about 4.52% of Raymond James Financial worth $1,556,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nicolet Advisory Services LLC lifted its position in Raymond James Financial by 9.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,655 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 139 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Raymond James Financial by 62.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,331 shares of the financial services provider's stock worth $230,000 after purchasing an additional 514 shares during the period. Pathstone Holdings LLC increased its holdings in Raymond James Financial by 3.7% during the 3rd quarter. Pathstone Holdings LLC now owns 37,249 shares of the financial services provider's stock worth $6,429,000 after purchasing an additional 1,324 shares in the last quarter. Vise Technologies Inc. raised its stake in shares of Raymond James Financial by 7.4% in the 3rd quarter. Vise Technologies Inc. now owns 3,375 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 233 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in shares of Raymond James Financial by 13.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 3,434 shares of the financial services provider's stock valued at $593,000 after purchasing an additional 398 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Up 1.0%

RJF stock opened at $146.07 on Friday. The company has a market cap of $28.79 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.07 and a beta of 1.00. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The business has a 50 day moving average price of $162.36 and a two-hundred day moving average price of $163.38. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

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

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial's dividend payout ratio is 21.14%.

Analyst Ratings Changes

A number of analysts have recently commented on RJF shares. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a "neutral" rating in a report on Thursday, December 11th. Barclays began coverage on Raymond James Financial in a research report on Wednesday, January 28th. They issued an "overweight" rating and a $191.00 target price on the stock. Bank of America upped their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 10th. Morgan Stanley reaffirmed a "positive" rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Finally, Weiss Ratings raised shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $182.17.

Insider Buying and Selling

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial 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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