Sterling Capital Management LLC Sells 31,552 Shares of Raymond James Financial, Inc. $RJF

Sterling Capital Management LLC cut its position in Raymond James Financial, Inc. (NYSE:RJF) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,365 shares of the financial services provider’s stock after selling 31,552 shares during the quarter. Sterling Capital Management LLC owned 0.12% of Raymond James Financial worth $33,934,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kingsview Wealth Management LLC raised its position in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares during the last quarter. Algebris UK Ltd. bought a new stake in shares of Raymond James Financial in the 4th quarter valued at about $10,179,000. Fisher Asset Management LLC grew its position in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after buying an additional 7,202 shares during the period. Finally, Swedbank AB increased its stake in shares of Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 0.0%

Shares of NYSE:RJF opened at $150.52 on Friday. 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 business’s 50-day moving average is $152.72 and its 200-day moving average is $156.40. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.16 and a beta of 0.94.

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

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Morgan Stanley raised their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and an average price target of $172.92.

Raymond James Financial Company 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.