Intech Investment Management LLC Cuts Holdings in Raymond James Financial, Inc. $RJF

Intech Investment Management LLC trimmed its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,028 shares of the financial services provider’s stock after selling 5,796 shares during the period. Intech Investment Management LLC’s holdings in Raymond James Financial were worth $1,450,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC purchased a new stake in Raymond James Financial during the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial during the 4th quarter valued at $32,000. Harbor Investment Advisory LLC boosted its stake in Raymond James Financial by 452.6% during 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 boosted its stake in Raymond James Financial by 34.8% during 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 purchased a new stake in Raymond James Financial during the 4th quarter valued at $44,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on RJF shares. Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets raised their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley raised their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $172.92.

Raymond James Financial Stock Performance

RJF stock opened at $151.48 on Friday. The company has a market cap of $29.52 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The stock’s fifty day moving average price is $150.20 and its 200-day moving average price is $156.64.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s payout ratio is 20.42%.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on 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 in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Raymond James Financial 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.