Cahaba Wealth Management Inc. Sells 3,964 Shares of Raymond James Financial, Inc. $RJF

Cahaba Wealth Management Inc. reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,290 shares of the financial services provider’s stock after selling 3,964 shares during the quarter. Raymond James Financial makes up approximately 0.4% of Cahaba Wealth Management Inc.’s holdings, making the stock its 20th largest holding. Cahaba Wealth Management Inc.’s holdings in Raymond James Financial were worth $6,149,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RJF. Thrivent Financial for Lutherans boosted its stake in Raymond James Financial by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock worth $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after purchasing an additional 6,953 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Raymond James Financial by 2,000.9% in the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after buying an additional 4,342 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Raymond James Financial by 24.6% in the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after buying an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Raymond James Financial in the third quarter valued at about $1,487,000. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.

Raymond James Financial Price Performance

Shares of RJF stock opened at $143.63 on Friday. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.07 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 quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $159.97 and a 200 day moving average price of $162.46.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. Research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Barclays initiated coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial 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.