Intech Investment Management LLC Lowers Position in Raymond James Financial, Inc. $RJF

Intech Investment Management LLC cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 39.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,028 shares of the financial services provider’s stock after selling 5,796 shares during the period. Intech Investment Management LLC’s holdings in Raymond James Financial were worth $1,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the fourth quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in Raymond James Financial during the third quarter valued at about $33,000. Harbor Investment Advisory LLC raised its holdings in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares during the period. Salomon & Ludwin LLC raised its holdings in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in Raymond James Financial during the fourth quarter valued at about $44,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on RJF shares. Jefferies Financial Group decreased their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. BMO Capital Markets raised their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. TD Cowen decreased their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 28th. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley raised their price target on Raymond James Financial from $171.00 to $172.00 and gave the company 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $172.92.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.6%

Shares of RJF stock opened at $151.48 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 current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $150.20 and its 200-day moving average price is $156.64. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94.

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

Raymond James Financial Announces Dividend

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

Raymond James Financial Company 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.