Truist Financial Corp Trims Position in Raymond James Financial, Inc. $RJF

Truist Financial Corp decreased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 13.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 154,621 shares of the financial services provider’s stock after selling 24,403 shares during the quarter. Truist Financial Corp’s holdings in Raymond James Financial were worth $24,831,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial during the 4th quarter worth approximately $32,000. Quent Capital LLC acquired a new position in shares of Raymond James Financial in the third quarter valued at approximately $33,000. Anfield Capital Management LLC acquired a new position in shares of Raymond James Financial in the third quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its stake in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 0.5%

Shares of Raymond James Financial stock opened at $159.64 on Thursday. The company has a 50-day moving average of $149.80 and a two-hundred day moving average of $158.31. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The stock has a market cap of $31.46 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.22 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RJF. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. UBS Group restated a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. TD Cowen restated a “hold” rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley lifted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group dropped their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $173.25.

About Raymond James Financial

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.