Raymond James Financial, Inc. $RJF Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in Raymond James Financial, Inc. (NYSE:RJF) by 64.6% in the third quarter, Holdings Channel reports. The fund owned 41,653 shares of the financial services provider’s stock after selling 75,845 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Raymond James Financial were worth $7,189,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. West Branch Capital LLC acquired a new stake in shares of Raymond James Financial in the 3rd quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial during the third quarter worth $31,000. Princeton Global Asset Management LLC increased its holdings in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after buying an additional 100 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Raymond James Financial by 47.2% in the second quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after buying an additional 108 shares in the last quarter. Finally, South Dakota Investment Council lifted its holdings in Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock worth $61,000 after buying an additional 300 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RJF shares. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. JMP Securities increased their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus target price of $180.73.

Raymond James Financial Stock Performance

Shares of RJF opened at $167.76 on Friday. The company’s 50 day simple moving average is $161.33 and its 200-day simple moving average is $163.29. The firm has a market cap of $33.13 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.04 and a beta of 0.99. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.83 by $0.28. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. Raymond James Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 EPS. As a group, equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, January 2nd. Raymond James Financial’s payout ratio is currently 20.99%.

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.