The Seven Bridges Advisors LLC Has $568,000 Position in Raymond James Financial Inc. (RJF)

The Seven Bridges Advisors LLC Has $568,000 Position in Raymond James Financial Inc. (RJF)

Seven Bridges Advisors LLC decreased its position in shares of Raymond James Financial Inc. (NYSE:RJF) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,753 shares of the company’s stock after selling 232 shares during the period. Seven Bridges Advisors LLC’s holdings in Raymond James Financial were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RJF. Mizuho Asset Management Co. Ltd. increased its position in shares of Raymond James Financial by 148.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,026 shares of the company’s stock worth $100,000 after buying an additional 1,209 shares in the last quarter. Advisor Group Inc. acquired a new position in shares of Raymond James Financial during the second quarter worth approximately $158,000. Tower Research Capital LLC TRC increased its position in shares of Raymond James Financial by 16.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,333 shares of the company’s stock worth $165,000 after buying an additional 475 shares in the last quarter. Equity Investment Corp GA acquired a new position in shares of Raymond James Financial during the second quarter worth approximately $201,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Raymond James Financial during the second quarter worth approximately $219,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Inc. (NYSE:RJF) traded down 0.85% during midday trading on Thursday, hitting $72.21. The stock had a trading volume of 311,996 shares. The company’s 50 day moving average price is $72.49 and its 200-day moving average price is $61.84. The stock has a market cap of $9.88 billion, a PE ratio of 19.76 and a beta of 1.57. Raymond James Financial Inc. has a 52-week low of $39.84 and a 52-week high of $75.16.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 26th. The company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.29. The firm earned $1.46 billion during the quarter. Raymond James Financial had a return on equity of 11.26% and a net margin of 9.59%. Raymond James Financial’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. Analysts forecast that Raymond James Financial Inc. will post $4.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were issued a $0.22 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.22%. Raymond James Financial’s payout ratio is 24.04%.

A number of equities analysts recently commented on RJF shares. Nomura upgraded Raymond James Financial from a “neutral” rating to a “buy” rating in a report on Thursday, January 5th. Instinet upgraded Raymond James Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $64.00 to $87.00 in a report on Friday, January 6th. Keefe, Bruyette & Woods downgraded Raymond James Financial from an “outperform” rating to a “market perform” rating and upped their target price for the company from $70.00 to $74.00 in a report on Monday, December 5th. Zacks Investment Research downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 7th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Raymond James Financial in a report on Thursday, September 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.00.

In related news, COO Dennis W. Zank sold 4,095 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $73.08, for a total transaction of $299,262.60. Following the completion of the transaction, the chief operating officer now owns 147,583 shares in the company, valued at approximately $10,785,365.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 6,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $71.03, for a total value of $426,180.00. Following the transaction, the insider now owns 18,552 shares of the company’s stock, valued at approximately $1,317,748.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,691 shares of company stock valued at $9,421,822. Company insiders own 11.18% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.

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