Raymond James Financial, Inc. $RJF Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 4.7% during the third quarter, HoldingsChannel reports. The firm owned 100,592 shares of the financial services provider’s stock after selling 4,991 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Raymond James Financial were worth $17,362,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RJF. Primecap Management Co. CA boosted its stake in shares of Raymond James Financial by 3.0% during the second quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock worth $1,535,824,000 after buying an additional 295,163 shares during the period. JPMorgan Chase & Co. raised its stake in Raymond James Financial by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after acquiring an additional 1,651,380 shares during the last quarter. First Trust Advisors LP lifted its position in Raymond James Financial by 39.9% during the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after acquiring an additional 709,315 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Raymond James Financial by 3.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,406,749 shares of the financial services provider’s stock valued at $369,123,000 after purchasing an additional 71,495 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Raymond James Financial in the second quarter valued at approximately $354,446,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is owned by insiders.

Raymond James Financial Stock Performance

Shares of RJF opened at $169.09 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a 50-day simple moving average of $163.19 and a 200-day simple moving average of $164.35. The company has a market capitalization of $33.39 billion, a PE ratio of 16.43, a P/E/G ratio of 1.34 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.54 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s payout ratio is currently 20.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RJF shares. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Bank of America boosted their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.36.

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.