TD Asset Management Inc Decreases Stake in Raymond James Financial, Inc. $RJF

TD Asset Management Inc reduced its stake in Raymond James Financial, Inc. (NYSE:RJF) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 306,848 shares of the financial services provider’s stock after selling 17,190 shares during the period. TD Asset Management Inc’s holdings in Raymond James Financial were worth $49,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter valued at approximately $32,000. Harbor Investment Advisory LLC raised its position in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC raised its position in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Raymond James Financial during the 4th quarter worth approximately $44,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James Financial

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RJF shares. TD Cowen reduced their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. Morgan Stanley raised their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. BMO Capital Markets raised their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group reduced their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $172.92.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $151.48 on Friday. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.94. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The firm’s 50 day simple moving average is $150.20 and its 200-day simple moving average is $156.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $2.42 EPS. Analysts expect that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

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.