Raymond James Financial, Inc. $RJF Shares Sold by Burney Co.

Burney Co. lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,419 shares of the financial services provider’s stock after selling 6,298 shares during the quarter. Burney Co.’s holdings in Raymond James Financial were worth $7,300,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RJF. First Trust Advisors LP boosted its stake in shares of Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Invesco Ltd. raised its stake in shares of Raymond James Financial by 12.2% during the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares in the last quarter. Norges Bank bought a new position in Raymond James Financial during the fourth quarter valued at approximately $324,263,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Raymond James Financial by 22.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock valued at $192,987,000 after purchasing an additional 216,907 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RJF. TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. UBS Group reiterated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley lifted their price target on shares of 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. Barclays reiterated an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $172.92.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $166.45 on Tuesday. 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 stock has a market capitalization of $32.44 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.25 and a beta of 0.93. The business has a 50-day moving average price of $153.39 and a two-hundred day moving average price of $156.11. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. Raymond James Financial’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. Equities analysts predict that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

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.