Earnest Partners LLC Reduces Holdings in Raymond James Financial, Inc. $RJF

Earnest Partners LLC lessened its stake in Raymond James Financial, Inc. (NYSE:RJF) by 0.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,471,824 shares of the financial services provider’s stock after selling 8,911 shares during the period. Raymond James Financial comprises about 1.9% of Earnest Partners LLC’s holdings, making the stock its 6th biggest position. Earnest Partners LLC’s holdings in Raymond James Financial were worth $426,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC raised its holdings in Raymond James Financial by 8.4% in the 3rd quarter. Elevation Point Wealth Partners LLC now owns 10,434 shares of the financial services provider’s stock valued at $1,801,000 after acquiring an additional 812 shares in the last quarter. Circle Wealth Management LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter worth approximately $255,000. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Raymond James Financial by 34.5% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,197 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 1,334 shares during the period. Bank of Nova Scotia raised its stake in shares of Raymond James Financial by 16.0% in the third quarter. Bank of Nova Scotia now owns 22,597 shares of the financial services provider’s stock valued at $3,900,000 after purchasing an additional 3,124 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its position in Raymond James Financial by 6.3% in the third quarter. Boothbay Fund Management LLC now owns 1,700 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 100 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RJF has been the topic of a number of recent research reports. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Bank of America increased their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $146.07 on Friday. The business’s fifty day moving average price is $162.36 and its two-hundred day moving average price is $163.35. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.93 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

Insider Transactions at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by corporate 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.