Mutual of America Capital Management LLC Sells 5,782 Shares of Raymond James Financial, Inc. $RJF

Mutual of America Capital Management LLC lessened its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 23.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,235 shares of the financial services provider’s stock after selling 5,782 shares during the period. Mutual of America Capital Management LLC’s holdings in Raymond James Financial were worth $3,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its stake in Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares during the last quarter. Waterloo Capital L.P. increased its holdings in shares of Raymond James Financial by 2.0% during the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock worth $506,000 after buying an additional 64 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Raymond James Financial by 0.6% in the 3rd quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after acquiring an additional 64 shares during the last quarter. Tectonic Advisors LLC lifted its stake in shares of Raymond James Financial by 2.0% in the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after acquiring an additional 65 shares during the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in shares of Raymond James Financial by 2.4% during the 2nd quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 1.1%

RJF stock opened at $165.76 on Friday. The firm has a market capitalization of $32.73 billion, a PE ratio of 16.22, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The stock’s 50 day moving average is $164.55 and its 200-day moving average is $164.67.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.74%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.93 earnings per share. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction 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 transaction, the insider owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. Bank of America boosted their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Barclays assumed coverage on shares of Raymond James Financial in a report on Wednesday. They set an “overweight” rating and a $191.00 price target on the stock. BMO Capital Markets increased their price objective on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.17.

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.