Penserra Capital Management LLC Sells 424 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Penserra Capital Management LLC lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 31.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 913 shares of the financial services provider’s stock after selling 424 shares during the period. Penserra Capital Management LLC’s holdings in Raymond James Financial were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the 1st quarter worth approximately $25,000. TCTC Holdings LLC grew its holdings in Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its holdings in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after buying an additional 123 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Raymond James Financial in the first quarter valued at $33,000. Institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

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

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent research reports. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Citigroup lifted their target price on Raymond James Financial from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $143.00 to $151.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average price target of $160.00.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $158.49 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a fifty day moving average of $150.08 and a two-hundred day moving average of $149.79. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.32 and a beta of 1.02. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the firm earned $2.31 EPS. Raymond James Financial’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

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

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.