Raymond James Financial, Inc. $RJF Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. cut its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,748 shares of the financial services provider’s stock after selling 4,412 shares during the quarter. Avity Investment Management Inc. owned about 0.05% of Raymond James Financial worth $15,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RJF. Great Valley Advisor Group Inc. lifted its holdings in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the period. Collective Family Office LLC grew its holdings in Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC grew its holdings in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Bridgewater Advisors Inc. increased its position in Raymond James Financial by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 71 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James Financial

In other news, insider Steven M. Raney sold 5,770 shares of the firm’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 transaction of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 1.5%

RJF opened at $176.59 on Friday. The firm’s 50 day moving average is $162.50 and its 200-day moving average is $157.16. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $33.97 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.08 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. Analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 18.83%.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Citizens Jmp increased their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. Barclays lifted their target price on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Argus lifted their price objective on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial 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.