Bank of New York Mellon Corp Has $169.98 Million Holdings in Raymond James Financial, Inc. $RJF

Bank of New York Mellon Corp trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 1.2% in the third quarter, Holdings Channel reports. The fund owned 984,832 shares of the financial services provider’s stock after selling 12,025 shares during the quarter. Bank of New York Mellon Corp’s holdings in Raymond James Financial were worth $169,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Branch Capital LLC bought a new stake in shares of Raymond James Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Raymond James Financial in the 3rd quarter valued at approximately $31,000. Quent Capital LLC acquired a new stake in Raymond James Financial during the 3rd quarter worth approximately $33,000. Princeton Global Asset Management LLC grew its holdings in Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 100 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Raymond James Financial in the 3rd quarter valued at approximately $50,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 1.1%

Shares of NYSE:RJF opened at $165.76 on Friday. Raymond James Financial, Inc. has a 1 year low of $117.57 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 1.04. The business’s 50-day moving average is $164.55 and its 200-day moving average is $164.67. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.31 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, January 2nd. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Analysts Set New Price Targets

Several analysts recently weighed in on RJF shares. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. BMO Capital Markets upped their price target on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Barclays began coverage on Raymond James Financial in a research note on Wednesday. They issued an “overweight” rating and a $191.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $182.17.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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.