Raymond James Financial, Inc. $RJF Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 43.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,780 shares of the financial services provider’s stock after selling 3,738 shares during the quarter. Securian Asset Management Inc.’s holdings in Raymond James Financial were worth $768,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial during the fourth quarter worth approximately $32,000. Quent Capital LLC purchased a new stake 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 during the 3rd quarter worth approximately $33,000. Harbor Investment Advisory LLC lifted its position in shares of Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.3%

Shares of RJF stock opened at $154.00 on Thursday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The stock’s fifty day moving average is $149.51 and its two-hundred day moving average is $157.91. The firm has a market capitalization of $30.01 billion, a P/E ratio of 14.56, a PEG ratio of 1.18 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Research analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is currently 20.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen reiterated a “hold” rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Morgan Stanley boosted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. UBS Group restated a “neutral” rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.