Vest Financial LLC Trims Holdings in Raymond James Financial, Inc. $RJF

Vest Financial LLC decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 20.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 238,274 shares of the financial services provider’s stock after selling 59,814 shares during the quarter. Vest Financial LLC’s holdings in Raymond James Financial were worth $38,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RJF. Thrivent Financial for Lutherans lifted its holdings in shares of Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock worth $10,390,000 after purchasing an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $5,402,000 after purchasing an additional 6,953 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Raymond James Financial by 2,000.9% during the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 4,342 shares during the period. Allianz Asset Management GmbH lifted its holdings 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 during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Raymond James Financial during the third quarter worth about $1,487,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.7%

Shares of RJF stock opened at $154.44 on Tuesday. The stock has a 50 day moving average of $149.80 and a 200 day moving average of $158.44. 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 market cap of $30.44 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.19 and a beta of 1.00. Raymond James Financial, Inc. has a twelve month low of $133.89 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.Raymond James Financial’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $2.42 earnings per share. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.68 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday. Jefferies Financial Group decreased their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen reaffirmed a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday. Finally, BMO Capital Markets lifted their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus price target of $173.17.

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.