Morgan Stanley Sells 630,310 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Morgan Stanley lowered its stake in Raymond James Financial, Inc. (NYSE:RJF) by 69.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 274,837 shares of the financial services provider’s stock after selling 630,310 shares during the period. Morgan Stanley owned about 0.19% of Raymond James Financial worth $20,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Raymond James Financial during the first quarter worth about $8,407,000. Beacon Financial Group bought a new stake in Raymond James Financial during the first quarter worth $388,000. Highbridge Capital Management LLC raised its stake in Raymond James Financial by 54.2% in the fourth quarter. Highbridge Capital Management LLC now owns 40,452 shares of the financial services provider’s stock worth $2,802,000 after buying an additional 14,215 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Raymond James Financial by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 370,813 shares of the financial services provider’s stock worth $25,686,000 after buying an additional 25,473 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in Raymond James Financial by 267.7% in the fourth quarter. Quadrature Capital Ltd now owns 31,675 shares of the financial services provider’s stock worth $2,193,000 after buying an additional 23,060 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of Raymond James Financial, Inc. (RJF) traded up 0.63% during midday trading on Friday, reaching $82.90. 610,633 shares of the company were exchanged. Raymond James Financial, Inc. has a 52-week low of $54.71 and a 52-week high of $85.97. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 19.72 and a beta of 1.65. The company’s 50-day moving average price is $81.09 and its 200 day moving average price is $77.11.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.57%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, equities analysts predict that Raymond James Financial, Inc. will post $5.10 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.88 annualized dividend and a yield of 1.06%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.

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A number of research firms have recently weighed in on RJF. Nomura reissued a “buy” rating and issued a $94.00 target price on shares of Raymond James Financial in a report on Tuesday, May 2nd. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Instinet dropped their target price on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research note on Monday, June 26th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $85.00 price objective (up previously from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $87.50.

In related news, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan N. Santelli sold 1,880 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the transaction, the executive vice president now owns 3,000 shares in the company, valued at $219,900. The disclosure for this sale can be found here. 11.18% of the stock is owned by company insiders.

About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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