Raymond James Financial, Inc. $RJF Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Raymond James Financial, Inc. (NYSE:RJF) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,602 shares of the financial services provider’s stock after selling 12,666 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Raymond James Financial were worth $13,553,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dean Capital Management lifted its holdings in Raymond James Financial by 15.1% in the 1st quarter. Dean Capital Management now owns 14,181 shares of the financial services provider’s stock valued at $2,053,000 after purchasing an additional 1,859 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Raymond James Financial by 15.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 23,675 shares of the financial services provider’s stock worth $3,428,000 after purchasing an additional 3,171 shares during the last quarter. North Reef Capital Management LP purchased a new stake in shares of Raymond James Financial during the first quarter worth $23,045,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Raymond James Financial during the first quarter worth $854,000. Finally, Morningstar Investment Management LLC raised its position in shares of Raymond James Financial by 92.7% in the first quarter. Morningstar Investment Management LLC now owns 50,079 shares of the financial services provider’s stock valued at $7,251,000 after buying an additional 24,085 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Citizens Jmp boosted their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. Finally, Barclays upped their price target on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Trading Up 0.1%

Shares of Raymond James Financial stock opened at $176.12 on Monday. The stock has a 50 day moving average of $159.33 and a 200 day moving average of $156.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.08 and a beta of 0.93. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $178.28.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the company earned $2.18 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is currently 18.83%.

Insider Buying and Selling

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company’s stock.

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.