Raymond James Financial, Inc. (RJF) Shares Sold by Strs Ohio
Strs Ohio lessened its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,636 shares of the financial services provider’s stock after selling 627 shares during the period. Strs Ohio’s holdings in Raymond James Financial were worth $1,487,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of RJF. YorkBridge Wealth Partners LLC lifted its position in shares of Raymond James Financial by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 66 shares during the last quarter. Burt Wealth Advisors acquired a new position in shares of Raymond James Financial during the 2nd quarter worth about $150,000. Triangle Securities Wealth Management acquired a new position in shares of Raymond James Financial during the 2nd quarter worth about $206,000. Pacer Advisors Inc. lifted its position in shares of Raymond James Financial by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 206 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Raymond James Financial during the 2nd quarter worth about $225,000. 69.59% of the stock is owned by institutional investors and hedge funds.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.97%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. Raymond James Financial’s payout ratio is presently 20.32%.
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Several equities analysts recently weighed in on RJF shares. Buckingham Research reissued a “buy” rating and set a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Nomura boosted their price objective on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Instinet reissued a “buy” rating and set a $90.00 price objective (up previously from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, August 30th. Finally, Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $89.67.
In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.18% of the company’s stock.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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