Pacer Advisors Inc. Has $1.27 Million Holdings in Raymond James Financial, Inc. $RJF

Pacer Advisors Inc. trimmed its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 37.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,772 shares of the financial services provider’s stock after selling 5,200 shares during the period. Pacer Advisors Inc.’s holdings in Raymond James Financial were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RJF. Kingsview Wealth Management LLC increased its position in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. bought a new position in shares of Raymond James Financial in the 4th quarter valued at about $10,179,000. Fisher Asset Management LLC grew its position in shares of Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after buying an additional 7,202 shares during the period. Finally, Swedbank AB raised its stake in shares of Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after buying an additional 9,838 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $176.59 on Monday. The company has a market capitalization of $33.97 billion, a PE ratio of 15.40, a PEG ratio of 1.08 and a beta of 0.92. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $162.50 and its 200 day simple moving average is $157.06.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. On average, research analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is 18.83%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citizens Jmp upped their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. BMO Capital Markets restated a “market perform” rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, TD Cowen lowered their price target on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Buying and Selling

In other news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.