Raymond James Financial, Inc. $RJF Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 58.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 284,620 shares of the financial services provider’s stock after selling 403,785 shares during the quarter. American Century Companies Inc.’s holdings in Raymond James Financial were worth $49,126,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Raymond James Financial by 8.2% in the 1st 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 lifted its holdings 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 worth $2,164,000 after acquiring an additional 4,592 shares during the period. Spire Wealth Management boosted its position in shares of Raymond James Financial by 2,533.3% in the second quarter. Spire Wealth Management now owns 553 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 532 shares during the last quarter. Assetmark Inc. grew its holdings in Raymond James Financial by 63.5% in the second quarter. Assetmark Inc. now owns 806 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 313 shares during the period. Finally, Versor Investments LP purchased a new stake in Raymond James Financial in the second quarter valued at approximately $380,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Raymond James Financial

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 transaction 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 trade represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.

Raymond James Financial Stock Up 0.1%

Shares of NYSE:RJF opened at $156.30 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a 50 day moving average of $164.08 and a two-hundred day moving average of $164.03. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last posted its earnings results 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 business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. As a group, analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Bank of America upped their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Barclays initiated coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target for the company. Finally, Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $182.17.

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.