Raymond James Financial, Inc. $RJF Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 25.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,764 shares of the financial services provider’s stock after selling 12,796 shares during the quarter. ProShare Advisors LLC’s holdings in Raymond James Financial were worth $6,345,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in Raymond James Financial by 30.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after buying an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after acquiring an additional 6,953 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Raymond James Financial by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after acquiring an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Raymond James Financial in the 3rd quarter worth approximately $1,487,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 0.6%

NYSE:RJF opened at $157.64 on Friday. 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 $31.07 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $166.21 and a 200 day moving average price of $164.97.

Raymond James Financial (NYSE:RJF) last posted 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. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company earned $2.93 EPS. Raymond James Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.54 per share. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RJF. JMP Securities boosted their target price on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Bank of America lifted 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. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $182.17.

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.