Envestnet Asset Management Inc. Sells 37,336 Shares of Raymond James Financial, Inc. $RJF

Envestnet Asset Management Inc. lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 5.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 618,929 shares of the financial services provider’s stock after selling 37,336 shares during the period. Envestnet Asset Management Inc.’s holdings in Raymond James Financial were worth $106,827,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in RJF. West Branch Capital LLC acquired a new position in shares of Raymond James Financial in the third quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial in the 3rd quarter worth about $31,000. Quent Capital LLC bought a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $33,000. Princeton Global Asset Management LLC grew 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 worth $38,000 after purchasing an additional 100 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Raymond James Financial in the 3rd quarter valued at about $50,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The shares were 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 in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. JMP Securities upped their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $182.17.

Raymond James Financial Stock Up 2.9%

Raymond James Financial stock opened at $172.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $165.90 and a two-hundred day simple moving average of $165.06. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The firm has a market cap of $34.03 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.28 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 EPS. Equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, January 2nd. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s dividend payout ratio is 21.14%.

Raymond James Financial Company 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.