Teachers Advisors LLC lowered its position in Raymond James Financial (NYSE:RJF) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 528,772 shares of the financial services provider’s stock after selling 657 shares during the period. Teachers Advisors LLC owned approximately 0.36% of Raymond James Financial worth $47,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisor Partners LLC bought a new stake in Raymond James Financial in the fourth quarter worth about $218,000. BlackRock Inc. lifted its stake in Raymond James Financial by 4.7% in the fourth quarter. BlackRock Inc. now owns 8,483,302 shares of the financial services provider’s stock worth $757,558,000 after purchasing an additional 383,937 shares during the last quarter. Toronto Dominion Bank lifted its stake in Raymond James Financial by 12.2% in the third quarter. Toronto Dominion Bank now owns 48,731 shares of the financial services provider’s stock worth $4,110,000 after purchasing an additional 5,295 shares during the last quarter. DnB Asset Management AS lifted its stake in Raymond James Financial by 29.8% in the fourth quarter. DnB Asset Management AS now owns 14,800 shares of the financial services provider’s stock worth $1,322,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Crestline Management LP bought a new stake in Raymond James Financial in the third quarter worth about $2,218,000. 70.93% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine raised shares of Raymond James Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods raised shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Monday, February 26th. Buckingham Research lifted their price target on shares of Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $82.00 price target on shares of Raymond James Financial in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $95.29.
Shares of Raymond James Financial stock opened at $97.57 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.14. Raymond James Financial has a 12 month low of $71.35 and a 12 month high of $99.26. The firm has a market cap of $14,207.66, a P/E ratio of 17.36, a PEG ratio of 0.83 and a beta of 1.61.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.19. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. sell-side analysts expect that Raymond James Financial will post 6.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, March 29th. Raymond James Financial’s payout ratio is 24.27%.
In related news, COO Dennis W. Zank sold 20,003 shares of Raymond James Financial stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $98.63, for a total transaction of $1,972,895.89. Following the transaction, the chief operating officer now directly owns 150,849 shares of the company’s stock, valued at $14,878,236.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 7,275 shares of Raymond James Financial stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $97.36, for a total transaction of $708,294.00. Following the transaction, the insider now directly owns 10,871 shares in the company, valued at $1,058,400.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,878 shares of company stock worth $3,774,080. 10.46% of the stock is currently owned by corporate insiders.
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About Raymond James Financial
Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.
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