Legal & General Group Plc Sells 59,988 Shares of Raymond James Financial, Inc. $RJF

Legal & General Group Plc decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,191,415 shares of the financial services provider’s stock after selling 59,988 shares during the period. Legal & General Group Plc’s holdings in Raymond James Financial were worth $191,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial in the 4th quarter valued at $32,000. Anfield Capital Management LLC bought a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Harbor Investment Advisory LLC increased its stake in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC increased its stake 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 valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Raymond James Financial in the 4th quarter valued at $44,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RJF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reissued a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley raised their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. BMO Capital Markets raised their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Finally, TD Cowen reissued a “hold” rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $173.25.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 4.4%

NYSE RJF opened at $145.39 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. The business’s fifty day moving average is $149.86 and its 200 day moving average is $157.37.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business posted $2.42 EPS. Raymond James Financial’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

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.