Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,501 shares of the financial services provider’s stock after selling 506 shares during the period. Forum Financial Management LP’s holdings in Raymond James Financial were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Formidable Asset Management LLC grew its position in Raymond James Financial by 0.9% in the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock valued at $1,227,000 after acquiring an additional 67 shares during the period. Farther Finance Advisors LLC lifted its stake in Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $137,000 after buying an additional 82 shares in the last quarter. Dynasty Wealth Management LLC lifted its stake in Raymond James Financial by 4.9% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 94 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Raymond James Financial by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 100 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America downgraded Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $143.00 to $151.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their price objective 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. Finally, Wells Fargo & Company raised their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.40.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $159.52 on Friday. The firm has a 50 day moving average price of $151.27 and a 200 day moving average price of $149.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.29 and a beta of 1.02.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data 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). The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. Raymond James Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. Raymond James Financial’s dividend payout ratio is currently 19.25%.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider owned 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This trade represents a 4.46% 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.

Raymond James Financial Company Profile

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.