Bokf Na Reduces Stake in Raymond James Financial, Inc. $RJF

Bokf Na lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 13.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,347 shares of the financial services provider’s stock after selling 4,979 shares during the quarter. Bokf Na’s holdings in Raymond James Financial were worth $5,195,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at about $33,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter valued at about $32,000. Harbor Investment Advisory LLC increased its holdings in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was 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 directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. TD Cowen reiterated a “hold” rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Barclays restated an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $173.25.

Raymond James Financial Stock Up 0.5%

RJF opened at $159.64 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The business has a 50 day simple moving average of $149.80 and a 200-day simple moving average of $158.31. The stock has a market capitalization of $31.46 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.22 and a beta of 0.99. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

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.