Rhumbline Advisers Trims Stake in Raymond James Financial, Inc. $RJF

Rhumbline Advisers cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 356,206 shares of the financial services provider’s stock after selling 4,720 shares during the period. Rhumbline Advisers owned about 0.18% of Raymond James Financial worth $61,481,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RJF. West Branch Capital LLC bought a new position in shares of Raymond James Financial in the third quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial during the 3rd quarter valued at approximately $31,000. Quent Capital LLC purchased a new stake in Raymond James Financial in the 3rd quarter worth approximately $33,000. Princeton Global Asset Management LLC raised its stake in Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 100 shares during the period. Finally, Root Financial Partners LLC bought a new stake in Raymond James Financial during the 3rd quarter worth approximately $50,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $157.64 on Friday. The company has a market cap of $31.07 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.18 and a beta of 1.00. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm’s fifty day moving average is $166.21 and its two-hundred day moving average is $164.97.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share 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 firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the business posted $2.93 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS 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. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.4%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

Insider Transactions at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction that occurred 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 $42,508,079.90. This represents a 33.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Company 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.