Cadent Capital Advisors LLC Sells 5,114 Shares of Raymond James Financial, Inc. $RJF

Cadent Capital Advisors LLC lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,325 shares of the financial services provider’s stock after selling 5,114 shares during the period. Cadent Capital Advisors LLC’s holdings in Raymond James Financial were worth $373,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. increased its position in Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC lifted its position in shares of Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after buying an additional 62 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Raymond James Financial by 0.6% in the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after buying an additional 64 shares during the last quarter. Tectonic Advisors LLC boosted its stake in shares of Raymond James Financial by 2.0% during the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 65 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its stake 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 worth $442,000 after acquiring an additional 67 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group set a $176.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Bank of America lifted their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Finally, Barclays started 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. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $182.17.

Raymond James Financial Stock Down 1.1%

Shares of RJF stock opened at $144.17 on Friday. 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 firm has a market cap of $28.42 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The stock has a 50 day moving average of $157.94 and a 200-day moving average of $161.87.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) 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 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%. Raymond James Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $2.93 earnings per share. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

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

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.