Envestnet Asset Management Inc. Lowers Stake in Raymond James Financial, Inc. $RJF

Envestnet Asset Management Inc. decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 618,929 shares of the financial services provider’s stock after selling 37,336 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Raymond James Financial worth $106,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RJF. Empowered Funds LLC raised its holdings in shares of 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 worth $573,000 after acquiring an additional 314 shares during the last quarter. Woodline Partners LP grew its stake in shares of Raymond James Financial by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 4,592 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Raymond James Financial during the second quarter valued at about $64,000. Tectonic Advisors LLC grew its holdings in shares of Raymond James Financial by 2.6% during the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 80 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Raymond James Financial in the second quarter worth $272,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Price Performance

NYSE:RJF opened at $172.34 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The company has a 50-day moving average of $165.90 and a 200-day moving average of $165.06. The company has a market capitalization of $34.03 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.28 and a beta of 1.00. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66.

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

Raymond James Financial Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on RJF. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Bank of America lifted their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Barclays started coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $182.17.

Insiders Place Their Bets

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by company 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.