Westfield Capital Management Co. LP cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 513,209 shares of the financial services provider’s stock after selling 134,615 shares during the period. Westfield Capital Management Co. LP owned 0.36% of Raymond James Financial worth $39,137,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Turner Investments LLC increased its position in Raymond James Financial by 17.6% in the first quarter. Turner Investments LLC now owns 20,000 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 3,000 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Raymond James Financial by 27.3% in the first quarter. Teachers Advisors LLC now owns 596,613 shares of the financial services provider’s stock valued at $45,498,000 after buying an additional 127,873 shares during the period. FMR LLC boosted its stake in shares of Raymond James Financial by 12.0% in the first quarter. FMR LLC now owns 881,188 shares of the financial services provider’s stock valued at $67,199,000 after buying an additional 94,652 shares during the period. United Services Automobile Association boosted its stake in Raymond James Financial by 127.1% in the first quarter. United Services Automobile Association now owns 47,342 shares of the financial services provider’s stock worth $3,610,000 after buying an additional 26,498 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Raymond James Financial by 40.4% in the first quarter. Rafferty Asset Management LLC now owns 22,922 shares of the financial services provider’s stock worth $1,748,000 after buying an additional 6,591 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.
Shares of Raymond James Financial, Inc. (NYSE RJF) traded up 0.23% on Tuesday, hitting $78.91. 711,210 shares of the stock were exchanged. The firm’s 50-day moving average is $74.69 and its 200-day moving average is $74.92. The company has a market cap of $11.31 billion, a P/E ratio of 20.61 and a beta of 1.63. Raymond James Financial, Inc. has a one year low of $46.30 and a one year high of $81.92.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. Raymond James Financial had a net margin of 9.26% and a return on equity of 12.81%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts forecast that Raymond James Financial, Inc. will post $4.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, June 29th. Raymond James Financial’s dividend payout ratio is 22.92%.
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Several equities analysts recently weighed in on RJF shares. Wells Fargo & Company restated a “market perform” rating and issued a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a research note on Monday. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a report on Thursday, April 6th. Nomura reiterated a “buy” rating and issued a $91.00 price objective on shares of Raymond James Financial in a report on Sunday, April 9th. Finally, Instinet cut their price objective on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Raymond James Financial currently has an average rating of “Buy” and a consensus price target of $81.67.
In other Raymond James Financial news, EVP Jonathan N. Santelli sold 1,880 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the sale, the executive vice president now owns 3,000 shares of the company’s stock, valued at approximately $219,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 11.18% of the company’s stock.
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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