Bank of New York Mellon Corp Sells 12,025 Shares of Raymond James Financial, Inc. $RJF

Bank of New York Mellon Corp lessened its stake in Raymond James Financial, Inc. (NYSE:RJF) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 984,832 shares of the financial services provider’s stock after selling 12,025 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.49% of Raymond James Financial worth $169,982,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Raymond James Financial by 14.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,601 shares of the financial services provider’s stock valued at $8,547,000 after acquiring an additional 6,379 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of Raymond James Financial in the third quarter valued at approximately $622,000. Sequoia Financial Advisors LLC increased its stake in shares of Raymond James Financial by 78.0% during the second quarter. Sequoia Financial Advisors LLC now owns 5,750 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 2,520 shares during the period. Access Investment Management LLC bought a new position in shares of Raymond James Financial during the second quarter worth approximately $4,500,000. Finally, Archer Investment Corp acquired a new stake in Raymond James Financial during the 2nd quarter worth approximately $260,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Down 1.1%

Shares of RJF opened at $165.76 on Friday. The firm has a 50 day simple moving average of $164.55 and a two-hundred day simple moving average of $164.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company has a market cap of $32.73 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.31 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company posted $2.93 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is presently 21.14%.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. Finally, JMP Securities raised their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.17.

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.