Raymond James Financial, Inc. $RJF Position Trimmed by Avity Investment Management Inc.

Avity Investment Management Inc. reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 4.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 103,748 shares of the financial services provider’s stock after selling 4,412 shares during the quarter. Avity Investment Management Inc.’s holdings in Raymond James Financial were worth $15,773,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Reflection Asset Management acquired a new stake in Raymond James Financial during the fourth quarter worth about $28,000. Hilton Head Capital Partners LLC acquired a new position in Raymond James Financial in the fourth quarter valued at approximately $35,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the last quarter. DV Equities LLC acquired a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $40,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $176.59 on Friday. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.05. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. The stock’s 50 day moving average price is $162.50 and its 200 day moving average price is $157.16.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is 18.83%.

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. TD Cowen cut their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and an average target price of $181.00.

Raymond James Financial Company Profile

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.