Schroder Investment Management Group cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 659,226 shares of the financial services provider’s stock after selling 19,521 shares during the period. Schroder Investment Management Group owned 0.46% of Raymond James Financial worth $50,161,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at about $4,297,000. Hartford Investment Management Co. purchased a new stake in shares of Raymond James Financial during the first quarter valued at about $2,216,000. Ladenburg Thalmann Financial Services Inc. increased 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 valued at $111,000 after buying an additional 67 shares during the period. Advantus Capital Management Inc increased its stake in shares of Raymond James Financial by 0.7% in the third quarter. Advantus Capital Management Inc now owns 15,355 shares of the financial services provider’s stock valued at $894,000 after buying an additional 100 shares during the period. Finally, Doyle Wealth Management purchased a new stake in shares of Raymond James Financial during the first quarter valued at about $1,868,000. Institutional investors own 67.37% 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.14. Raymond James Financial had a net margin of 9.91% and a return on equity of 12.02%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, June 29th. Raymond James Financial’s payout ratio is 22.34%.
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Several equities research analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research note on Thursday, April 6th. Nomura reiterated a “buy” rating and issued a $91.00 target price on shares of Raymond James Financial in a research note on Sunday, April 9th. Finally, Instinet cut their target price on shares of Raymond James Financial to $89.00 and set a “buy” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $81.00.
In other Raymond James Financial news, SVP Jennifer C. Ackart sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $79.44, for a total value of $198,600.00. Following the completion of the sale, the senior vice president now directly owns 17,999 shares of the company’s stock, valued at approximately $1,429,840.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Dennis W. Zank sold 6,054 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $81.57, for a total transaction of $493,824.78. Following the completion of the sale, the chief operating officer now directly owns 140,339 shares of the company’s stock, valued at $11,447,452.23. The disclosure for this sale can be found here. Corporate 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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