Raymond James Financial, Inc. $RJF Position Cut by Savant Capital LLC

Savant Capital LLC trimmed its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 76.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,658 shares of the financial services provider’s stock after selling 11,619 shares during the quarter. Savant Capital LLC’s holdings in Raymond James Financial were worth $587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Raymond James Financial by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock worth $1,009,342,000 after purchasing an additional 230,871 shares during the period. First Trust Advisors LP lifted its position in Raymond James Financial by 4.5% in the third quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock worth $448,332,000 after purchasing an additional 111,950 shares during the period. Dimensional Fund Advisors LP lifted its position in Raymond James Financial by 10.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock worth $406,941,000 after purchasing an additional 227,337 shares during the period. Sei Investments Co. lifted its position in Raymond James Financial by 2.8% in the third quarter. Sei Investments Co. now owns 932,602 shares of the financial services provider’s stock worth $160,968,000 after purchasing an additional 25,018 shares during the period. Finally, UBS Group AG lifted its position in Raymond James Financial by 37.1% in the fourth quarter. UBS Group AG now owns 841,859 shares of the financial services provider’s stock worth $135,194,000 after purchasing an additional 227,781 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $146.82 on Thursday. The company’s fifty day moving average is $149.99 and its two-hundred day moving average is $156.74. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a market cap of $28.61 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $2.42 EPS. The company’s revenue was up 13.4% on a year-over-year basis. Equities analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio is 20.42%.

Analysts Set New Price Targets

RJF has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. TD Cowen cut their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, BMO Capital Markets upped their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and an average target price of $172.92.

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.