Inceptionr LLC Trims Stock Holdings in Raymond James Financial, Inc. $RJF

Inceptionr LLC lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 83.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,488 shares of the financial services provider’s stock after selling 12,562 shares during the quarter. Inceptionr LLC’s holdings in Raymond James Financial were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RJF. Private Advisor Group LLC boosted its position in shares of Raymond James Financial by 5.0% during the 3rd quarter. Private Advisor Group LLC now owns 1,818 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 87 shares during the period. Diversify Advisory Services LLC lifted its holdings in Raymond James Financial by 9.0% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,203 shares of the financial services provider’s stock worth $350,000 after buying an additional 182 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in Raymond James Financial by 1,228.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 35,755 shares of the financial services provider’s stock worth $6,171,000 after buying an additional 33,063 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in Raymond James Financial by 12.7% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 7,115 shares of the financial services provider’s stock valued at $1,228,000 after buying an additional 804 shares during the period. Finally, Vinva Investment Management Ltd acquired a new position in shares of Raymond James Financial in the third quarter worth $2,738,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

Shares of RJF opened at $148.36 on Thursday. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The stock has a market cap of $29.24 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The firm has a fifty day moving average price of $163.03 and a 200 day moving average price of $163.65.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company posted $2.93 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced 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 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 (DPR) is 21.14%.

Analysts Set New Price Targets

RJF has been the topic of several recent research reports. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Barclays initiated coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective on the stock. Finally, Bank of America increased their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.17.

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.