Raymond James Financial, Inc. $RJF Shares Sold by Peterson Wealth Services

Peterson Wealth Services lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 45.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,617 shares of the financial services provider’s stock after selling 27,716 shares during the period. Raymond James Financial makes up 1.3% of Peterson Wealth Services’ holdings, making the stock its 15th largest position. Peterson Wealth Services’ holdings in Raymond James Financial were worth $5,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new stake in shares of Raymond James Financial during the third quarter valued at about $1,487,000. Jones Financial Companies Lllp grew its position in Raymond James Financial by 20.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,362 shares of the financial services provider’s stock valued at $766,000 after buying an additional 751 shares in the last quarter. Access Investment Management LLC increased its stake in Raymond James Financial by 1.1% during the 3rd quarter. Access Investment Management LLC now owns 29,661 shares of the financial services provider’s stock valued at $5,119,000 after buying an additional 320 shares during the period. Mediolanum International Funds Ltd raised its position in shares of Raymond James Financial by 9.2% during the 3rd quarter. Mediolanum International Funds Ltd now owns 14,839 shares of the financial services provider’s stock worth $2,618,000 after buying an additional 1,252 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in shares of Raymond James Financial by 64.6% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 2,569 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 1,008 shares during the period. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RJF. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Bank of America lifted their price target on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Barclays started coverage on Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average target price of $182.17.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Stock Up 1.0%

Shares of Raymond James Financial stock opened at $167.44 on Tuesday. 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 12-month low of $117.57 and a 12-month high of $177.66. The firm has a market capitalization of $33.06 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. The stock’s fifty day moving average is $164.84 and its 200-day moving average is $164.85.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion during 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 business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company posted $2.93 earnings per share. Equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

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

Raymond James Financial Company 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.