Prudential Financial Inc. decreased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 31.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,020,746 shares of the financial services provider’s stock after selling 460,480 shares during the period. Prudential Financial Inc. owned approximately 0.71% of Raymond James Financial worth $86,079,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its position in Raymond James Financial by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 66 shares in the last quarter. Noesis Capital Mangement Corp purchased a new position in shares of Raymond James Financial in the third quarter worth about $210,000. Sterling Capital Management LLC purchased a new position in shares of Raymond James Financial in the third quarter worth about $219,000. Visionary Asset Management Inc. purchased a new position in shares of Raymond James Financial in the third quarter worth about $220,000. Finally, Pacer Advisors Inc. increased its holdings in shares of Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after buying an additional 206 shares during the period. 69.79% of the stock is owned by institutional investors.
Raymond James Financial, Inc. (RJF) opened at $89.80 on Thursday. The firm has a market cap of $12,970.00, a P/E ratio of 20.79, a P/E/G ratio of 0.84 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14. Raymond James Financial, Inc. has a 1-year low of $69.70 and a 1-year high of $91.29.
Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. analysts anticipate that Raymond James Financial, Inc. will post 6.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, January 2nd. Raymond James Financial’s dividend payout ratio is 20.37%.
Several research analysts have recently commented on the company. Credit Suisse Group reiterated a “hold” rating and issued a $82.00 price objective on shares of Raymond James Financial in a report on Wednesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Wells Fargo & Co raised Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Buckingham Research lifted their price objective on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $88.57.
In other Raymond James Financial news, Vice Chairman Francis S. Godbold sold 45,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Thomas A. James sold 200,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total transaction of $17,196,000.00. The disclosure for this sale can be found here. Insiders sold a total of 318,204 shares of company stock valued at $27,453,239 over the last 90 days. 11.18% of the stock is currently owned by company insiders.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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