Goldman Sachs Group Inc. Sells 63,696 Shares of Raymond James Financial, Inc. $RJF

Goldman Sachs Group Inc. reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,848,467 shares of the financial services provider’s stock after selling 63,696 shares during the quarter. Goldman Sachs Group Inc. owned about 0.94% of Raymond James Financial worth $296,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Anfield Capital Management LLC purchased a new stake in Raymond James Financial during the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the fourth quarter worth $32,000. Harbor Investment Advisory LLC boosted its position in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares in the last quarter. Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after buying an additional 65 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in Raymond James Financial in the fourth quarter worth about $44,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RJF has been the subject of a number of recent analyst reports. TD Cowen lowered their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Morgan Stanley raised their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group dropped their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. BMO Capital Markets raised their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Barclays restated an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.92.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $151.48 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $29.52 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 0.94. The business’s 50 day moving average is $150.20 and its two-hundred day moving average is $156.64. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. Analysts expect that Raymond James Financial, Inc. will post 11.82 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, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’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 owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.