Goldman Sachs Group Inc. lessened its position in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,848,467 shares of the financial services provider’s stock after selling 63,696 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Raymond James Financial were worth $296,845,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Plato Investment Management Ltd increased its position in Raymond James Financial by 2,000.9% during the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 4,342 shares during the period. Allianz Asset Management GmbH grew its holdings in Raymond James Financial by 24.6% in the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after purchasing an additional 11,680 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares in the last quarter. Algebris UK Ltd. purchased a new stake in Raymond James Financial in the fourth quarter valued at about $10,179,000. Finally, Public Sector Pension Investment Board raised its stake in Raymond James Financial by 139.1% in the third quarter. Public Sector Pension Investment Board now owns 89,267 shares of the financial services provider’s stock valued at $15,407,000 after buying an additional 51,928 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. UBS Group reissued a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Morgan Stanley upped their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, TD Cowen lowered their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.92.
Raymond James Financial Stock Up 0.6%
NYSE:RJF opened at $151.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company’s fifty day moving average price is $150.20 and its 200-day moving average price is $156.64. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The firm has a market capitalization of $29.52 billion, a P/E ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.94.
Raymond James Financial (NYSE:RJF – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.82 EPS for the current year.
Raymond James Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is currently 20.42%.
Insider Transactions at Raymond James Financial
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on 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 completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
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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