Private Trust Co. NA Sells 105 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Private Trust Co. NA decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 382 shares of the financial services provider’s stock after selling 105 shares during the period. Private Trust Co. NA’s holdings in Raymond James Financial were worth $53,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its holdings in Raymond James Financial by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after buying an additional 67 shares during the last quarter. Farther Finance Advisors LLC raised its position in Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $137,000 after buying an additional 82 shares during the last quarter. Brighton Jones LLC increased its position in shares of Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 100 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Raymond James Financial by 0.8% during the 1st quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider’s stock worth $1,752,000 after purchasing an additional 103 shares during the last quarter. Finally, TCTC Holdings LLC increased its position in shares of Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

RJF opened at $158.70 on Thursday. The business has a fifty day simple moving average of $149.30 and a 200 day simple moving average of $149.80. The company has a market capitalization of $32.02 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. Research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. Raymond James Financial’s payout ratio is 19.25%.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider owned 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RJF. The Goldman Sachs Group lowered their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Citigroup boosted their target price on Raymond James Financial from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $143.00 to $151.00 and gave the stock a “neutral” rating in a report on Tuesday. Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Bank of America lowered Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.00.

Raymond James Financial Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.