Savant Capital LLC Sells 5,094 Shares of Raymond James Financial, Inc. $RJF

Savant Capital LLC decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,277 shares of the financial services provider’s stock after selling 5,094 shares during the quarter. Savant Capital LLC’s holdings in Raymond James Financial were worth $2,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Raymond James Financial during the second quarter valued at approximately $354,446,000. JPMorgan Chase & Co. increased its stake in shares of Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock worth $861,479,000 after buying an additional 1,651,380 shares during the period. First Trust Advisors LP boosted its position in Raymond James Financial by 39.9% during the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock valued at $381,212,000 after buying an additional 709,315 shares during the period. American Century Companies Inc. boosted its position in Raymond James Financial by 179.8% during the 2nd quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock valued at $105,581,000 after buying an additional 442,340 shares during the period. Finally, Marshall Wace LLP grew its holdings in Raymond James Financial by 824.7% in the 2nd quarter. Marshall Wace LLP now owns 438,213 shares of the financial services provider’s stock worth $67,209,000 after acquiring an additional 390,821 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.58% of the stock is owned by corporate insiders.

Raymond James Financial Trading Up 2.9%

Shares of NYSE RJF opened at $172.34 on Friday. The firm’s 50 day moving average price is $165.90 and its 200-day moving average price is $165.06. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. 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 market cap of $34.03 billion, a PE ratio of 16.86, a P/E/G ratio of 1.28 and a beta of 1.00.

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

Raymond James Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

RJF has been the topic of several research analyst reports. Barclays started coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price on the stock. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Finally, Bank of America raised their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $182.17.

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.