Raymond James Financial, Inc. (RJF) Holdings Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in Raymond James Financial, Inc. (NYSE:RJF) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,018 shares of the financial services provider’s stock after selling 1,555 shares during the period. King Luther Capital Management Corp’s holdings in Raymond James Financial were worth $1,266,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Strs Ohio grew its position in shares of Raymond James Financial by 51.7% during the second quarter. Strs Ohio now owns 18,263 shares of the financial services provider’s stock worth $1,465,000 after acquiring an additional 6,226 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Raymond James Financial by 379.7% during the second quarter. Janney Montgomery Scott LLC now owns 14,128 shares of the financial services provider’s stock worth $1,133,000 after acquiring an additional 11,183 shares during the last quarter. Sei Investments Co. grew its position in shares of Raymond James Financial by 15.0% during the second quarter. Sei Investments Co. now owns 111,888 shares of the financial services provider’s stock worth $8,975,000 after acquiring an additional 14,632 shares during the last quarter. Korea Investment CORP grew its position in shares of Raymond James Financial by 1.1% during the second quarter. Korea Investment CORP now owns 87,513 shares of the financial services provider’s stock worth $7,020,000 after acquiring an additional 924 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Raymond James Financial by 0.5% during the second quarter. Retirement Systems of Alabama now owns 62,148 shares of the financial services provider’s stock worth $4,986,000 after acquiring an additional 334 shares during the last quarter. Institutional investors own 69.86% of the company’s stock.

In related news, Vice Chairman Francis S. Godbold sold 45,000 shares of Raymond James Financial stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP George Catanese sold 2,000 shares of Raymond James Financial stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.63, for a total transaction of $171,260.00. Following the completion of the transaction, the senior vice president now owns 6,678 shares in the company, valued at $571,837.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,812 shares of company stock worth $24,145,735. 11.18% of the stock is currently owned by insiders.

Raymond James Financial, Inc. (RJF) traded up $1.03 during trading hours on Friday, reaching $89.49. 468,643 shares of the company were exchanged, compared to its average volume of 681,457. Raymond James Financial, Inc. has a 1 year low of $68.97 and a 1 year high of $91.29. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The stock has a market cap of $12,773.67, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.88 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $1.28 EPS. Raymond James Financial’s quarterly revenue was up 15.8% on a year-over-year basis. equities research analysts anticipate that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, January 2nd. Raymond James Financial’s dividend payout ratio (DPR) is 20.32%.

RJF has been the topic of a number of research reports. Buckingham Research raised their target price on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, August 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research report on Tuesday, August 29th. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Credit Suisse Group initiated coverage on shares of Raymond James Financial in a research report on Thursday, November 30th. They set an “underperform” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $88.57.

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Raymond James Financial Profile

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.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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