Pacer Advisors Inc. Has $1.27 Million Stake in Raymond James Financial, Inc. $RJF

Pacer Advisors Inc. reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 37.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,772 shares of the financial services provider’s stock after selling 5,200 shares during the period. Pacer Advisors Inc.’s holdings in Raymond James Financial were worth $1,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC raised its holdings in Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 17,407 shares in the last quarter. Algebris UK Ltd. acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at approximately $10,179,000. Fisher Asset Management LLC increased its holdings in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Raymond James Financial by 7.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after acquiring an additional 7,202 shares in the last quarter. Finally, Swedbank AB lifted its stake in Raymond James Financial by 31.1% in the fourth 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 last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were 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 of the company’s stock, valued at $7,942,770.84. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.0%

Shares of NYSE:RJF opened at $176.59 on Monday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The business has a 50 day moving average of $162.50 and a 200-day moving average of $157.06. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $33.97 billion, a PE ratio of 15.40, a P/E/G ratio of 1.08 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RJF. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. TD Cowen dropped their price objective on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Argus raised their price objective on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Morgan Stanley raised their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $181.00.

About Raymond James Financial

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.