Cadent Capital Advisors LLC Has $373,000 Stock Position in Raymond James Financial, Inc. $RJF

Cadent Capital Advisors LLC lowered its position in Raymond James Financial, Inc. (NYSE:RJF) by 68.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,325 shares of the financial services provider’s stock after selling 5,114 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Raymond James Financial were worth $373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. raised its stake in shares of Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC boosted its stake in Raymond James Financial by 0.6% during the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after buying an additional 62 shares in the last quarter. Wedmont Private Capital boosted its stake in Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after buying an additional 64 shares in the last quarter. Tectonic Advisors LLC increased its holdings in Raymond James Financial by 2.0% in the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after buying an additional 65 shares during the period. Finally, Level Four Advisory Services LLC increased its holdings in Raymond James Financial by 2.4% in the 2nd quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock valued at $442,000 after buying an additional 67 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RJF shares. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Bank of America increased their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Barclays started coverage on Raymond James Financial in a report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective on the stock. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Stock Down 1.1%

RJF opened at $144.17 on Friday. The firm’s 50-day simple moving average is $157.94 and its 200-day simple moving average is $161.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.08 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion during 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 firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $2.93 EPS. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS 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. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

About Raymond James Financial

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.