Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in Raymond James Financial, Inc. (NYSE:RJF) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,518 shares of the financial services provider’s stock after selling 609 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Raymond James Financial were worth $4,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RJF. Norges Bank acquired a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $105,701,000. GAMMA Investing LLC grew its holdings in shares of Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock worth $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. acquired a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $81,611,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Raymond James Financial by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after acquiring an additional 461,069 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Down 0.1%

Shares of Raymond James Financial stock opened at $150.84 on Wednesday. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm has a market cap of $30.43 billion, a PE ratio of 14.52, a P/E/G ratio of 1.82 and a beta of 1.03. The business’s fifty day moving average is $144.70 and its two-hundred day moving average is $149.90. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the company earned $2.31 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 19.25%.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of research reports. Bank of America cut Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a report on Wednesday, April 30th. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Thursday, April 24th. JMP Securities reiterated a “market outperform” rating and set a $175.00 target price on shares of Raymond James Financial in a report on Thursday, April 24th. Citigroup lowered their target price on Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $153.82.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider now directly owns 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.