The Manufacturers Life Insurance Company Sells 5,409 Shares of Raymond James Financial, Inc. $RJF

The Manufacturers Life Insurance Company lessened its position in Raymond James Financial, Inc. (NYSE:RJF) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,193 shares of the financial services provider’s stock after selling 5,409 shares during the period. The Manufacturers Life Insurance Company’s holdings in Raymond James Financial were worth $13,408,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC raised its holdings in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares during the last quarter. Algebris UK Ltd. bought a new stake in Raymond James Financial during the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC grew its holdings in Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Swedbank AB increased its position in Raymond James Financial by 31.1% in the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 9,838 shares during the period. Finally, Mizuho Markets Cayman LP acquired a new position in Raymond James Financial in the 4th quarter valued at approximately $5,347,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Tashtego Elwyn sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,270 shares of company stock valued at $4,090,637. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Up 0.0%

Raymond James Financial stock opened at $173.55 on Friday. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.06 and a beta of 0.91. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm has a 50 day moving average price of $174.45 and a two-hundred day moving average price of $159.25.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $2.18 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts predict that Raymond James Financial, Inc. will post 12.08 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.16 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

RJF has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. BMO Capital Markets restated a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Argus increased their price objective on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Truist Financial set a $188.00 target price on Raymond James Financial and gave the stock a “hold” rating in a report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $181.46.

Raymond James Financial Company Profile

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Founded in 1962, the company provides investment, wealth management and financial planning services to individuals, corporations, institutions and municipalities.

Through its principal businesses, Raymond James offers securities brokerage, investment advisory, retirement planning, trust services and banking products. Its operations also include equity and debt capital markets, investment banking, institutional sales and trading, research, and asset management.