Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Morgan Stanley

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

Several other institutional investors also recently modified their holdings of RJF. Vanguard Group Inc. raised its position in shares of Raymond James Financial by 24.4% in the first quarter. Vanguard Group Inc. now owns 12,571,840 shares of the financial services provider’s stock valued at $958,728,000 after buying an additional 2,462,838 shares during the last quarter. Norges Bank bought a new position in shares of Raymond James Financial during the fourth quarter valued at $80,439,000. Westpac Banking Corp raised its position in shares of Raymond James Financial by 6,501.9% in the first quarter. Westpac Banking Corp now owns 1,156,979 shares of the financial services provider’s stock valued at $96,770,000 after buying an additional 1,139,454 shares during the last quarter. Bank of Montreal Can raised its position in shares of Raymond James Financial by 4,545.8% in the first quarter. Bank of Montreal Can now owns 629,137 shares of the financial services provider’s stock valued at $47,979,000 after buying an additional 615,595 shares during the last quarter. Finally, Boston Partners raised its position in shares of Raymond James Financial by 9.9% in the first quarter. Boston Partners now owns 5,437,723 shares of the financial services provider’s stock valued at $414,680,000 after buying an additional 489,610 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Shares of Raymond James Financial, Inc. (RJF) opened at 81.77 on Wednesday. The firm’s 50-day moving average is $75.81 and its 200-day moving average is $75.43. The firm has a market capitalization of $11.72 billion, a P/E ratio of 21.36 and a beta of 1.65. Raymond James Financial, Inc. has a 52 week low of $49.86 and a 52 week high of $82.59.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.14. Raymond James Financial had a return on equity of 12.81% and a net margin of 9.26%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 19.1% on a year-over-year basis. Equities analysts anticipate that Raymond James Financial, Inc. will post $5.00 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, June 29th. Raymond James Financial’s dividend payout ratio is presently 22.92%.

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A number of research firms recently commented on RJF. Nomura reaffirmed a “buy” rating and set a $91.00 price target on shares of Raymond James Financial in a research report on Sunday, April 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Thursday, April 6th. BidaskClub raised shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Instinet lowered their price target on shares of Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and a consensus price target of $83.43.

In other news, EVP Jonathan N. Santelli sold 1,880 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the sale, the executive vice president now directly owns 3,000 shares in the company, valued at $219,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 11.18% of the company’s stock.

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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