Harfst & Associates Inc. decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,264,226 shares of the financial services provider’s stock after selling 1,140 shares during the period. Raymond James Financial makes up 41.7% of Harfst & Associates Inc.’s portfolio, making the stock its largest position. Harfst & Associates Inc. owned 0.88% of Raymond James Financial worth $96,409,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock worth $102,000 after buying an additional 52 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Raymond James Financial by 4.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,608 shares of the financial services provider’s stock worth $111,000 after buying an additional 67 shares during the period. Independent Portfolio Consultants Inc. raised its stake in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Raymond James Financial during the first quarter worth about $168,000. Finally, Global X Management Co. LLC raised its stake in shares of Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after buying an additional 690 shares during the period. Institutional investors own 70.80% of the company’s stock.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. Raymond James Financial had a return on equity of 12.81% and a net margin of 9.26%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm earned $0.90 EPS. Raymond James Financial’s quarterly revenue was up 19.1% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, June 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. Raymond James Financial’s dividend payout ratio (DPR) is presently 22.92%.
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A number of brokerages have recently commented on RJF. Nomura reissued a “buy” rating and set a $94.00 price objective on shares of Raymond James Financial in a research report on Tuesday, May 2nd. Instinet lowered their price objective on Raymond James Financial to $89.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Wednesday, May 24th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $85.00 price objective (up from $82.50) on shares of Raymond James Financial in a research report on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.67.
In other Raymond James Financial news, EVP Jonathan N. Santelli sold 1,880 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the completion of the sale, the executive vice president now owns 3,000 shares in the company, valued at approximately $219,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.18% of the stock is owned by company insiders.
About Raymond James Financial
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.
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