State Street Corp cut its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,811,695 shares of the financial services provider’s stock after selling 119,184 shares during the period. State Street Corp owned about 4.04% of Raymond James Financial worth $466,212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Raymond James Financial by 13.2% during the 1st quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock worth $68,554,000 after acquiring an additional 105,145 shares during the last quarter. Bank of Nova Scotia bought a new stake in Raymond James Financial during the 1st quarter worth approximately $2,243,000. Greenwood Capital Associates LLC bought a new stake in Raymond James Financial during the 2nd quarter worth approximately $300,000. Alliancebernstein L.P. grew its position in Raymond James Financial by 132.5% during the 1st quarter. Alliancebernstein L.P. now owns 240,437 shares of the financial services provider’s stock worth $18,336,000 after acquiring an additional 137,022 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Raymond James Financial by 16.1% during the 2nd quarter. Principal Financial Group Inc. now owns 360,741 shares of the financial services provider’s stock worth $28,938,000 after acquiring an additional 50,132 shares during the last quarter. Institutional investors and hedge funds own 70.02% of the company’s stock.
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. Also, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the sale, the insider now directly owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
A number of equities research analysts recently commented on RJF shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Monday, June 26th. BidaskClub upgraded Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Buckingham Research restated a “buy” rating and set a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Nomura increased their price target 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. Finally, Instinet restated a “buy” rating and set a $90.00 price target (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.33.
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Raymond James Financial, Inc. (NYSE:RJF) opened at 86.25 on Friday. The firm has a 50-day moving average price of $81.31 and a 200-day moving average price of $78.59. Raymond James Financial, Inc. has a 12 month low of $57.64 and a 12 month high of $87.22. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 20.51 and a beta of 1.67.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, equities analysts anticipate that Raymond James Financial, Inc. will post $5.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.22 per share. The ex-dividend date is 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 20.90%.
Raymond James Financial Profile
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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