Raymond James Financial, Inc. $RJF Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd trimmed its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 52.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,452 shares of the financial services provider’s stock after selling 276,848 shares during the quarter. Raymond James Financial makes up about 1.8% of Premier Fund Managers Ltd’s portfolio, making the stock its 23rd biggest holding. Premier Fund Managers Ltd owned 0.13% of Raymond James Financial worth $44,377,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have weighed in on RJF. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Bank of America increased their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Barclays initiated coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. Finally, Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Trading Up 0.1%

Shares of RJF stock opened at $158.15 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company’s 50-day moving average price is $165.53 and its 200-day moving average price is $164.61. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.17 and a beta of 1.00.

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

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Insider Buying and Selling

In related news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

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.