State of Wisconsin Investment Board Has $22.18 Million Position in Raymond James Financial, Inc. (RJF)
State of Wisconsin Investment Board lessened its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,338 shares of the financial services provider’s stock after selling 6,810 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.17% of Raymond James Financial worth $22,177,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in Raymond James Financial during the 4th quarter valued at about $129,000. Claraphi Advisory Network LLC purchased a new position in Raymond James Financial during the 4th quarter valued at about $202,000. Squar Milner Financial Services LLC purchased a new position in Raymond James Financial during the 4th quarter valued at about $205,000. Noesis Capital Mangement Corp purchased a new position in Raymond James Financial during the 3rd quarter valued at about $210,000. Finally, Advisor Partners LLC purchased a new position in Raymond James Financial during the 4th quarter valued at about $218,000. 70.99% of the stock is currently owned by institutional investors.
In related news, insider Tashtego S. Elwyn sold 7,275 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $97.36, for a total value of $708,294.00. Following the completion of the sale, the insider now directly owns 10,871 shares in the company, valued at approximately $1,058,400.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Dennis W. Zank sold 20,003 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $98.63, for a total value of $1,972,895.89. Following the completion of the sale, the chief operating officer now owns 150,849 shares of the company’s stock, valued at $14,878,236.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,278 shares of company stock valued at $3,136,190. Corporate insiders own 10.46% of the company’s stock.
Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.19. Raymond James Financial had a return on equity of 14.87% and a net margin of 9.00%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. research analysts expect that Raymond James Financial, Inc. will post 6.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.00 annualized dividend and a yield of 1.05%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.37%.
Several research firms have weighed in on RJF. Credit Suisse Group reaffirmed a “hold” rating and set a $99.00 target price on shares of Raymond James Financial in a research note on Friday, January 26th. Zacks Investment Research cut Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine raised Raymond James Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Buckingham Research boosted their price target on Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $102.00 price target on shares of Raymond James Financial in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $95.29.
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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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