Raymond James Financial, Inc. $RJF Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,251,403 shares of the financial services provider’s stock after selling 4,213 shares during the period. Legal & General Group Plc’s holdings in Raymond James Financial were worth $215,992,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Great Valley Advisor Group Inc. grew its holdings in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares during the period. Meridian Wealth Advisors LLC raised its holdings in Raymond James Financial by 0.6% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after buying an additional 62 shares during the period. Waterloo Capital L.P. lifted its position in Raymond James Financial by 2.0% in the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock valued at $506,000 after buying an additional 64 shares during the last quarter. Wedmont Private Capital lifted its position in Raymond James Financial by 0.6% in the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after buying an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its stake in Raymond James Financial by 2.0% during the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Down 2.5%

Shares of RJF opened at $144.64 on Friday. The stock has a market capitalization of $28.51 billion, a PE ratio of 14.15, a P/E/G ratio of 1.10 and a beta of 1.00. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The company’s 50-day simple moving average is $162.71 and its 200-day simple moving average is $163.52.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 earnings per share. Analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RJF. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Barclays began coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Bank of America upped their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $182.17.

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.