Wright Investors Service Inc. cut its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 30.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,670 shares of the financial services provider’s stock after selling 1,620 shares during the period. Wright Investors Service Inc.’s holdings in Raymond James Financial were worth $294,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. Renaissance Technologies LLC acquired a new stake in Raymond James Financial during the fourth quarter worth $4,141,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Raymond James Financial by 4.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,608 shares of the financial services provider’s stock worth $111,000 after buying an additional 67 shares during the period. Quadrature Capital Ltd increased its stake in Raymond James Financial by 267.7% in the fourth quarter. Quadrature Capital Ltd now owns 31,675 shares of the financial services provider’s stock worth $2,193,000 after buying an additional 23,060 shares during the period. UBS Asset Management Americas Inc. increased its stake in Raymond James Financial by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 370,813 shares of the financial services provider’s stock worth $25,686,000 after buying an additional 25,473 shares during the period. Finally, Highbridge Capital Management LLC increased its stake in Raymond James Financial by 54.2% in the fourth quarter. Highbridge Capital Management LLC now owns 40,452 shares of the financial services provider’s stock worth $2,802,000 after buying an additional 14,215 shares during the period. 70.87% of the stock is currently owned by institutional investors and hedge funds.
Raymond James Financial, Inc. (NYSE:RJF) traded down 0.63% during midday trading on Friday, hitting $79.35. The stock had a trading volume of 520,920 shares. The stock has a market cap of $11.40 billion, a P/E ratio of 18.87 and a beta of 1.65. The company’s 50-day moving average price is $81.89 and its 200 day moving average price is $77.55. Raymond James Financial, Inc. has a 12-month low of $55.79 and a 12-month high of $85.97.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, equities research analysts predict that Raymond James Financial, Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.
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A number of research firms recently weighed in on RJF. Instinet decreased their price target on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research report on Wednesday, May 24th. Buckingham Research reiterated a “buy” rating and set a $94.00 target price (up from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and issued a $85.00 price objective (up from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Finally, BidaskClub downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $87.50.
In related news, EVP Jonathan N. Santelli sold 1,880 shares of Raymond James Financial stock in a transaction on Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the completion of the transaction, the executive vice president now owns 3,000 shares of the company’s stock, valued at $219,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The disclosure for this sale can be found here. Insiders have sold 38,880 shares of company stock valued at $3,213,734 in the last three months. 11.18% of the stock is owned by insiders.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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