Carl Stuart Investment Advisor Inc. reduced its stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 32.9% during the 4th quarter, HoldingsChannel reports. The fund owned 19,115 shares of the financial services provider’s stock after selling 9,360 shares during the quarter. Raymond James Financial comprises 2.8% of Carl Stuart Investment Advisor Inc.’s investment portfolio, making the stock its 4th largest position. Carl Stuart Investment Advisor Inc.’s holdings in Raymond James Financial were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in RJF. Norges Bank bought a new stake in Raymond James Financial in the 4th quarter valued at $324,263,000. First Trust Advisors LP lifted its position in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in Raymond James Financial in the 3rd quarter valued at $69,861,000. PFA Pension Forsikringsaktieselskab bought a new stake in Raymond James Financial in the 4th quarter valued at $64,640,000. Finally, Balyasny Asset Management L.P. lifted its position in Raymond James Financial by 7,823.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider’s stock valued at $49,809,000 after acquiring an additional 284,941 shares in the last quarter. 83.83% of the stock is owned by institutional investors.
Raymond James Financial Price Performance
NYSE:RJF opened at $154.25 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $151.05 and a 200 day simple moving average of $156.53. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The stock has a market capitalization of $30.06 billion, a PE ratio of 14.58, a P/E/G ratio of 1.19 and a beta of 0.94.
Raymond James Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.
Analysts Set New Price Targets
Several equities research analysts recently commented on RJF shares. Barclays reaffirmed an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Jefferies Financial Group cut their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. TD Cowen cut their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Finally, BMO Capital Markets lifted their price target on shares of 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. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $172.92.
Check Out Our Latest Research Report on RJF
Insider Activity
In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.
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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