Raymond James Financial, Inc. $RJF Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Raymond James Financial, Inc. (NYSE:RJF) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,588 shares of the financial services provider’s stock after selling 18,511 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Raymond James Financial were worth $62,345,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kingsview Wealth Management LLC grew its holdings in shares of Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 17,407 shares in the last quarter. Algebris UK Ltd. purchased a new stake in Raymond James Financial in the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its holdings in Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake 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 purchasing an additional 7,202 shares during the period. Finally, Swedbank AB boosted its holdings 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 purchasing an additional 9,838 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Trending Headlines about Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial (NYSE:RJF) Given New $200.00 Price Target at Citizens Jmp
• Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
• Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)

Raymond James Financial Stock Down 0.3%

Shares of NYSE RJF traded down $0.57 on Friday, hitting $168.15. The company had a trading volume of 1,000,423 shares, compared to its average volume of 1,493,235. 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 firm has a market capitalization of $32.77 billion, a P/E ratio of 15.89, a PEG ratio of 1.30 and a beta of 0.93. The business has a 50 day moving average of $154.40 and a two-hundred day moving average of $156.32.

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

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group reiterated a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday. TD Cowen decreased their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday. Finally, BMO Capital Markets upped their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $176.64.

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.