TD Asset Management Inc. cut its stake in Raymond James Financial, Inc. (NYSE:RJF) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,878 shares of the financial services provider’s stock after selling 2,482 shares during the period. TD Asset Management Inc.’s holdings in Raymond James Financial were worth $3,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Raymond James Financial by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock valued at $1,034,139,000 after acquiring an additional 319,457 shares in the last quarter. Boston Partners raised its holdings in Raymond James Financial by 0.6% in the third quarter. Boston Partners now owns 5,312,709 shares of the financial services provider’s stock valued at $448,021,000 after acquiring an additional 30,481 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Raymond James Financial by 25.1% in the second quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock valued at $256,605,000 after acquiring an additional 642,474 shares in the last quarter. Northern Trust Corp raised its holdings in Raymond James Financial by 0.7% in the second quarter. Northern Trust Corp now owns 1,461,795 shares of the financial services provider’s stock valued at $117,266,000 after acquiring an additional 10,794 shares in the last quarter. Finally, BT Investment Management Ltd raised its holdings in Raymond James Financial by 0.7% in the third quarter. BT Investment Management Ltd now owns 1,240,326 shares of the financial services provider’s stock valued at $104,597,000 after acquiring an additional 9,053 shares in the last quarter. 69.86% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Raymond James Financial in a research note on Thursday, November 30th. They set an “underperform” rating and a $82.00 target price for the company. Buckingham Research boosted their target price on shares of Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Thursday, September 14th. Finally, Zacks Investment Research upgraded shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.57.

Raymond James Financial, Inc. (NYSE RJF) traded up $0.74 during mid-day trading on Friday, reaching $88.46. 495,200 shares of the company’s stock traded hands, compared to its average volume of 781,825. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Raymond James Financial, Inc. has a 12-month low of $68.97 and a 12-month high of $91.29. The company has a market capitalization of $12,666.81, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.15. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. equities research analysts predict that Raymond James Financial, Inc. will post 5.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s dividend payout ratio is currently 20.32%.

In other news, Vice Chairman Francis S. Godbold sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jennifer C. Ackart sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the transaction, the senior vice president now owns 12,409 shares of the company’s stock, valued at approximately $1,107,255.07. The disclosure for this sale can be found here. Insiders have sold 280,812 shares of company stock valued at $24,145,735 in the last 90 days. Insiders own 11.18% of the company’s stock.

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Raymond James Financial Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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