Raymond James Financial, Inc. $RJF Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 470,732 shares of the financial services provider’s stock after selling 11,653 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Raymond James Financial worth $81,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. West Branch Capital LLC acquired a new stake in shares of Raymond James Financial in the third quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial during the 3rd quarter valued at $31,000. Princeton Global Asset Management LLC boosted its position 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 purchasing an additional 100 shares during the period. TD Private Client Wealth LLC increased its holdings in Raymond James Financial by 47.2% in the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 108 shares in the last quarter. Finally, South Dakota Investment Council raised its position in Raymond James Financial by 300.0% in the second quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 300 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday. Bank of America upped their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. increased their price objective on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average price target of $181.36.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $172.46 on Thursday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The stock has a market cap of $34.06 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.03 and a beta of 0.99. The stock has a 50 day moving average of $162.01 and a 200-day moving average of $163.74.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a $0.54 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.99%.

Insider Activity 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 stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company’s stock.

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.