Hantz Financial Services Inc. Sells 6,737 Shares of Raymond James Financial, Inc. $RJF

Hantz Financial Services Inc. lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,041 shares of the financial services provider’s stock after selling 6,737 shares during the quarter. Hantz Financial Services Inc.’s holdings in Raymond James Financial were worth $11,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Raymond James Financial during the 2nd quarter worth approximately $354,446,000. JPMorgan Chase & Co. grew its position in Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after acquiring an additional 1,651,380 shares during the period. First Trust Advisors LP raised its stake in Raymond James Financial by 39.9% during the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after acquiring an additional 709,315 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Raymond James Financial by 179.8% during the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock valued at $105,581,000 after acquiring an additional 442,340 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Raymond James Financial by 824.7% during the second quarter. Marshall Wace LLP now owns 438,213 shares of the financial services provider’s stock valued at $67,209,000 after acquiring an additional 390,821 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 0.8%

NYSE RJF opened at $166.01 on Wednesday. The stock has a market capitalization of $32.78 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.25 and a beta of 1.00. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a fifty day moving average of $165.07 and a 200-day moving average of $164.88.

Raymond James Financial (NYSE:RJF) last posted 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. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.93 earnings per share. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.54 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price for the company. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. JMP Securities increased their price target on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $182.17.

Insider Buying and Selling at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the 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 transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

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.