Raymond James Financial, Inc. $RJF Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its position in Raymond James Financial, Inc. (NYSE:RJF) by 58.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 284,620 shares of the financial services provider’s stock after selling 403,785 shares during the period. American Century Companies Inc. owned approximately 0.14% of Raymond James Financial worth $49,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its holdings in Raymond James Financial by 10.8% during the third quarter. Huntington National Bank now owns 2,976 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 290 shares in the last quarter. Anfield Capital Management LLC acquired a new position in Raymond James Financial during the 3rd quarter worth approximately $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $2,097,000. Integrated Advisors Network LLC lifted its holdings in shares of Raymond James Financial by 20.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 25,371 shares of the financial services provider’s stock valued at $4,379,000 after buying an additional 4,264 shares during the period. Finally, DNB Asset Management AS lifted its holdings in shares of Raymond James Financial by 1.5% in the 3rd quarter. DNB Asset Management AS now owns 36,520 shares of the financial services provider’s stock valued at $6,303,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.1%

RJF stock opened at $156.30 on Friday. The company’s 50 day simple moving average is $164.08 and its 200-day simple moving average is $164.03. The firm has a market capitalization of $30.81 billion, a PE ratio of 15.29, a P/E/G ratio of 1.16 and a beta of 1.00. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

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 analysts’ consensus estimates 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 return on equity of 17.65% and a net margin of 13.07%.The business’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 firm posted $2.93 earnings per share. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is 21.14%.

Analyst Ratings Changes

Several research analysts have issued reports on RJF shares. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Bank of America increased their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Barclays initiated coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective for the company. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $182.17.

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction dated 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 completion of the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

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.