Stonebrook Private Inc. Decreases Position in Raymond James Financial, Inc. (NYSE:RJF)

Stonebrook Private Inc. cut its position in Raymond James Financial, Inc. (NYSE:RJF) by 8.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,615 shares of the financial services provider’s stock after selling 232 shares during the period. Stonebrook Private Inc.’s holdings in Raymond James Financial were worth $363,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RJF. FMR LLC grew its stake in shares of Raymond James Financial by 2.2% in the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after acquiring an additional 137,277 shares during the period. Geode Capital Management LLC grew its stake in shares of Raymond James Financial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after acquiring an additional 40,576 shares during the period. Earnest Partners LLC increased its holdings in Raymond James Financial by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock valued at $393,554,000 after buying an additional 24,195 shares during the last quarter. Invesco Ltd. raised its position in Raymond James Financial by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock worth $378,276,000 after acquiring an additional 192,904 shares during the period. Finally, Northern Trust Corp grew its position in shares of Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after acquiring an additional 327,739 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Trading Up 0.7%

NYSE RJF opened at $158.70 on Thursday. The company has a market capitalization of $32.02 billion, a PE ratio of 15.27, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a fifty day moving average of $149.30 and a 200 day moving average of $149.80. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Research analysts forecast 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. Investors of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. Raymond James Financial’s dividend payout ratio is presently 19.25%.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider owned 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated 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 sale, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RJF. Cowen restated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Citigroup increased their price target on Raymond James Financial from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $175.00 price target on shares of Raymond James Financial in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.00.

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.