Raymond James Financial, Inc. $RJF Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in Raymond James Financial, Inc. (NYSE:RJF) by 61.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,083 shares of the financial services provider’s stock after selling 8,068 shares during the quarter. QRG Capital Management Inc.’s holdings in Raymond James Financial were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Raymond James Financial during the third quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial in the third quarter worth about $31,000. Quent Capital LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter worth about $33,000. Princeton Global Asset Management LLC grew its position in shares of 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 valued at $38,000 after acquiring an additional 100 shares during the period. Finally, TD Private Client Wealth LLC raised 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 worth $52,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Price Performance

RJF stock opened at $170.03 on Thursday. The business’s fifty day moving average price is $162.78 and its 200 day moving average price is $164.22. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month 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 company has a market capitalization of $33.57 billion, a PE ratio of 16.52, a P/E/G ratio of 1.08 and a beta of 0.99.

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

Raymond James Financial Increases Dividend

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

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. BMO Capital Markets upped their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. JMP Securities lifted their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $181.36.

Raymond James Financial 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.