Chevy Chase Trust Holdings LLC Boosts Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Chevy Chase Trust Holdings LLC lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,778 shares of the financial services provider’s stock after buying an additional 765 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Raymond James Financial were worth $13,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Raymond James Financial by 2.2% during the 4th 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 boosted its position in shares of Raymond James Financial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock valued at $680,378,000 after purchasing an additional 40,576 shares in the last quarter. Earnest Partners LLC grew its stake in Raymond James Financial by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock worth $393,554,000 after purchasing an additional 24,195 shares during the period. Invesco Ltd. raised its holdings 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 purchasing an additional 192,904 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Raymond James Financial by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after buying an additional 327,739 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, 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 sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider now owns 74,586 shares in the company, valued at $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. Company insiders own 0.54% of the company’s stock.

Raymond James Financial Price Performance

RJF opened at $151.69 on Thursday. The company’s 50-day simple moving average is $145.09 and its two-hundred day simple moving average is $149.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $30.60 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.81 and a beta of 1.03. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32.

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

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James Financial’s payout ratio is 19.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RJF. Citigroup reduced their target price on shares of Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on Raymond James Financial from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $175.00 price objective on shares of Raymond James Financial in a research report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $153.82.

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.