Royal Bank of Canada Sells 70,816 Shares of Raymond James Financial, Inc. $RJF

Royal Bank of Canada cut its position in Raymond James Financial, Inc. (NYSE:RJF) by 28.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 182,279 shares of the financial services provider’s stock after selling 70,816 shares during the period. Royal Bank of Canada’s holdings in Raymond James Financial were worth $26,392,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after buying an additional 314 shares during the period. Woodline Partners LP increased its stake in shares of Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Raymond James Financial by 137.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 685 shares during the period. Brown Advisory Inc. boosted its stake in Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in Raymond James Financial in the second quarter worth $363,000. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Up 0.6%

Shares of NYSE RJF opened at $178.75 on Wednesday. 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 has a market capitalization of $34.83 billion, a PE ratio of 15.58, a P/E/G ratio of 1.09 and a beta of 0.92. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $179.69. The business’s fifty day moving average price is $160.39 and its 200-day moving average price is $156.91.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s payout ratio is 18.83%.

Insider Buying and Selling

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the sale, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. TD Cowen cut their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. Citizens Jmp increased their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Barclays boosted their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.00.

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.