HighPoint Advisor Group LLC Sells 111 Shares of Raymond James Financial, Inc. (NYSE:RJF)

HighPoint Advisor Group LLC lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 5.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,790 shares of the financial services provider’s stock after selling 111 shares during the period. HighPoint Advisor Group LLC’s holdings in Raymond James Financial were worth $247,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crestwood Advisors Group LLC grew its holdings in Raymond James Financial by 323.0% in the 1st quarter. Crestwood Advisors Group LLC now owns 8,383 shares of the financial services provider’s stock worth $1,164,000 after acquiring an additional 6,401 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Raymond James Financial by 231.0% in the 1st quarter. Allianz Asset Management GmbH now owns 146,782 shares of the financial services provider’s stock worth $20,389,000 after acquiring an additional 102,431 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Raymond James Financial by 70.9% in the 1st quarter. Lindbrook Capital LLC now owns 1,885 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 782 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Raymond James Financial by 2.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 14,101 shares of the financial services provider’s stock worth $1,958,000 after acquiring an additional 388 shares during the last quarter. Finally, Twin Capital Management Inc. bought a new stake in Raymond James Financial in the 1st quarter worth $973,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RJF shares. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Monday, July 14th. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a report on Wednesday, April 30th. Morgan Stanley raised their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus price target of $163.80.

Raymond James Financial Trading Up 3.6%

NYSE:RJF opened at $166.66 on Friday. The company has a 50-day moving average price of $152.34 and a 200-day moving average price of $150.04. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The stock has a market cap of $33.62 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.33 and a beta of 1.02.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the business earned $2.39 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.25%.

Insider Transactions at Raymond James Financial

In related news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider directly owned 78,227 shares of the company’s stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider directly owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.