Sterling Capital Management LLC Has $33.93 Million Stock Position in Raymond James Financial, Inc. $RJF

Sterling Capital Management LLC lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,365 shares of the financial services provider’s stock after selling 31,552 shares during the quarter. Sterling Capital Management LLC’s holdings in Raymond James Financial were worth $33,934,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RJF. Reflection Asset Management acquired a new position in Raymond James Financial during the 4th quarter worth approximately $28,000. Anfield Capital Management LLC acquired a new stake in Raymond James Financial in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $32,000. Harbor Investment Advisory LLC increased its holdings in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial during the fourth quarter worth approximately $35,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Trading Down 0.0%

Shares of Raymond James Financial stock opened at $150.52 on Friday. The company has a market capitalization of $29.33 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The stock has a fifty day simple moving average of $152.72 and a 200 day simple moving average of $156.40. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued 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. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. TD Cowen lowered their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 28th. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Morgan Stanley raised their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.92.

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.