Ariel Capital Advisors LLC cut its stake in shares of Raymond James Financial Inc. (NYSE:RJF) by 25.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,017 shares of the company’s stock after selling 2,798 shares during the period. Ariel Capital Advisors LLC’s holdings in Raymond James Financial were worth $395,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Raymond James Financial by 2.6% in the first quarter. State Street Corp now owns 4,048,794 shares of the company’s stock worth $192,764,000 after buying an additional 100,922 shares during the period. Fairpointe Capital LLC raised its stake in Raymond James Financial by 3.4% in the first quarter. Fairpointe Capital LLC now owns 3,087,185 shares of the company’s stock worth $146,981,000 after buying an additional 102,102 shares during the period. JPMorgan Chase & Co. raised its stake in Raymond James Financial by 419.9% in the first quarter. JPMorgan Chase & Co. now owns 2,517,105 shares of the company’s stock worth $119,839,000 after buying an additional 2,032,920 shares during the period. Fisher Asset Management LLC raised its stake in Raymond James Financial by 1.8% in the second quarter. Fisher Asset Management LLC now owns 1,586,375 shares of the company’s stock worth $79,652,000 after buying an additional 28,172 shares during the period. Finally, Norges Bank acquired a new stake in Raymond James Financial during the fourth quarter worth approximately $63,143,000. Institutional investors own 70.38% of the company’s stock.
Raymond James Financial Inc. (NYSE:RJF) traded up 2.75% on Friday, hitting $58.21. The stock had a trading volume of 660,499 shares. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 17.38 and a beta of 1.50. The company’s 50 day moving average is $57.10 and its 200-day moving average is $52.70. Raymond James Financial Inc. has a 1-year low of $39.84 and a 1-year high of $59.81.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. Raymond James Financial had a net margin of 9.02% and a return on equity of 10.20%. The company earned $1.36 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Raymond James Financial Inc. will post $3.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. Raymond James Financial’s payout ratio is 23.88%.
RJF has been the topic of a number of research analyst reports. Zacks Investment Research lowered Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group AG set a $56.00 price target on Raymond James Financial and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Wells Fargo & Co. restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, September 22nd. Finally, Nomura restated a “hold” rating on shares of Raymond James Financial in a research report on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.22.
In other news, CFO Jeffrey P. Julien sold 18,600 shares of Raymond James Financial stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $57.62, for a total value of $1,071,732.00. Following the completion of the sale, the chief financial officer now directly owns 46,407 shares in the company, valued at $2,673,971.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 3,791 shares of Raymond James Financial stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $56.72, for a total transaction of $215,025.52. Following the completion of the sale, the insider now owns 12,434 shares of the company’s stock, valued at $705,256.48. The disclosure for this sale can be found here. 11.21% of the stock is currently owned by insiders.
Raymond James Financial Company Profile
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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