Hantz Financial Services Inc. Lowers Holdings in Raymond James Financial, Inc. $RJF

Hantz Financial Services Inc. lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,907 shares of the financial services provider’s stock after selling 8,134 shares during the period. Hantz Financial Services Inc.’s holdings in Raymond James Financial were worth $9,781,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Systematic Financial Management LP lifted its holdings in Raymond James Financial by 17.4% during the fourth quarter. Systematic Financial Management LP now owns 29,351 shares of the financial services provider’s stock worth $4,713,000 after buying an additional 4,350 shares during the period. Swedbank AB lifted its holdings in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after buying an additional 9,838 shares during the period. Prospera Financial Services Inc lifted its holdings in Raymond James Financial by 12.9% during the fourth quarter. Prospera Financial Services Inc now owns 2,552 shares of the financial services provider’s stock worth $410,000 after buying an additional 292 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Raymond James Financial by 5.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,510 shares of the financial services provider’s stock worth $724,000 after buying an additional 231 shares during the period. Finally, Buckhead Capital Management LLC lifted its holdings in Raymond James Financial by 0.6% during the fourth quarter. Buckhead Capital Management LLC now owns 26,976 shares of the financial services provider’s stock worth $4,332,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $151.48 on Monday. The business’s fifty day simple moving average is $149.56 and its 200-day simple moving average is $157.58. The company has a market cap of $29.52 billion, a PE ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.99. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. 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 issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. Analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RJF. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday. Barclays restated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets upped their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. TD Cowen restated a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley upped their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.