Riverhead Capital Management LLC Sells 38,377 Shares of Raymond James Financial, Inc. (RJF)

Riverhead Capital Management LLC Sells 38,377 Shares of Raymond James Financial, Inc. (RJF)

Riverhead Capital Management LLC lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 93.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,700 shares of the company’s stock after selling 38,377 shares during the period. Riverhead Capital Management LLC’s holdings in Raymond James Financial were worth $157,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Raymond James Financial by 4.0% in the second quarter. Vanguard Group Inc. now owns 9,567,897 shares of the company’s stock valued at $471,698,000 after buying an additional 370,101 shares during the period. Boston Partners increased its stake in shares of Raymond James Financial by 4.6% in the third quarter. Boston Partners now owns 6,008,016 shares of the company’s stock valued at $349,727,000 after buying an additional 266,912 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Raymond James Financial by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,780,132 shares of the company’s stock valued at $336,462,000 after buying an additional 95,535 shares during the period. BlackRock Fund Advisors increased its stake in shares of Raymond James Financial by 5.5% in the third quarter. BlackRock Fund Advisors now owns 4,849,526 shares of the company’s stock valued at $282,291,000 after buying an additional 252,925 shares during the period. Finally, State Street Corp increased its stake in shares of Raymond James Financial by 0.4% in the second quarter. State Street Corp now owns 4,064,426 shares of the company’s stock valued at $200,386,000 after buying an additional 15,632 shares during the period. Hedge funds and other institutional investors own 67.86% of the company’s stock.

Shares of Raymond James Financial, Inc. (NYSE:RJF) traded down 1.52% on Friday, hitting $75.99. The stock had a trading volume of 906,842 shares. The stock has a market cap of $10.40 billion, a PE ratio of 19.35 and a beta of 1.57. Raymond James Financial, Inc. has a 12 month low of $39.84 and a 12 month high of $77.79. The stock has a 50 day moving average of $72.73 and a 200-day moving average of $62.94.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 25th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.06. Raymond James Financial had a return on equity of 12.24% and a net margin of 9.91%. The company earned $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post $4.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, December 29th. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.20. Raymond James Financial’s dividend payout ratio (DPR) is 22.34%.

Several equities research analysts recently issued reports 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 price target for the stock 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 price target for the stock 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, JMP Securities downgraded Raymond James Financial from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Raymond James Financial presently has an average rating of “Buy” and a consensus price target of $68.14.

In related news, President John C. Jr. Carson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $73.83, for a total transaction of $1,476,600.00. Following the completion of the transaction, the president now owns 49,780 shares of the company’s stock, valued at approximately $3,675,257.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jennifer C. Ackart sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $71.63, for a total value of $537,225.00. Following the transaction, the senior vice president now directly owns 15,957 shares of the company’s stock, valued at approximately $1,142,999.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,691 shares of company stock valued at $9,421,822. 11.18% of the stock is owned by corporate insiders.

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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