Wellington Management Group LLP Sells 550,333 Shares of Raymond James Financial, Inc. $RJF

Wellington Management Group LLP decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,018,292 shares of the financial services provider’s stock after selling 550,333 shares during the quarter. Wellington Management Group LLP’s holdings in Raymond James Financial were worth $1,556,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RJF. West Branch Capital LLC acquired a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Raymond James Financial during the 3rd quarter valued at $31,000. Quent Capital LLC acquired a new stake in Raymond James Financial during the 3rd quarter valued at $33,000. Anfield Capital Management LLC bought a new position in Raymond James Financial during the third quarter worth $33,000. Finally, Clearstead Trust LLC increased its holdings in shares of Raymond James Financial by 174.0% in the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 181 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Barclays started coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price target on the stock. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Bank of America upped their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus price target of $182.17.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on 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 sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

NYSE:RJF opened at $146.07 on Friday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The firm has a market cap of $28.79 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.07 and a beta of 1.00. The firm’s 50-day simple moving average is $162.36 and its 200 day simple moving average is $163.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s payout ratio is 21.14%.

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.