Raymond James Financial, Inc. $RJF Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,028 shares of the financial services provider’s stock after selling 15,300 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Raymond James Financial were worth $17,188,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP grew its position in shares of Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after buying an additional 685 shares during the last quarter. Brown Advisory Inc. raised its holdings in Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Raymond James Financial during the 2nd quarter valued at $363,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Trading Down 1.3%

Raymond James Financial stock opened at $156.33 on Friday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The stock has a market capitalization of $30.81 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The firm has a 50 day simple moving average of $149.65 and a 200-day simple moving average of $158.39.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s payout ratio is currently 20.42%.

Analyst Ratings Changes

Several brokerages have weighed in on RJF. TD Cowen reissued a “hold” rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley increased their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group reduced their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $173.25.

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.