First Mercantile Trust Co. Has $663,000 Stake in Raymond James Financial, Inc. (RJF)

First Mercantile Trust Co. reduced its position in Raymond James Financial, Inc. (NYSE:RJF) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,431 shares of the financial services provider’s stock after selling 788 shares during the quarter. First Mercantile Trust Co.’s holdings in Raymond James Financial were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor Group Inc. raised its position in shares of Raymond James Financial by 16.2% in the 2nd quarter. Advisor Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $279,000 after buying an additional 484 shares during the period. Stifel Financial Corp raised its position in shares of Raymond James Financial by 1.8% in the 2nd quarter. Stifel Financial Corp now owns 30,394 shares of the financial services provider’s stock worth $2,435,000 after buying an additional 545 shares during the period. CIBC Asset Management Inc raised its position in shares of Raymond James Financial by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 13,215 shares of the financial services provider’s stock worth $1,180,000 after buying an additional 637 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Raymond James Financial by 3.5% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,165 shares of the financial services provider’s stock worth $1,616,000 after buying an additional 643 shares during the period. Finally, Eqis Capital Management Inc. raised its position in shares of Raymond James Financial by 4.0% in the 4th quarter. Eqis Capital Management Inc. now owns 16,781 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 646 shares during the period. 69.36% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial, Inc. (RJF) opened at $86.06 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14. Raymond James Financial, Inc. has a 52-week low of $71.35 and a 52-week high of $99.10. The company has a market capitalization of $13,216.27, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.42 by $0.19. Raymond James Financial had a return on equity of 15.07% and a net margin of 9.00%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. equities research analysts anticipate that Raymond James Financial, Inc. will post 6.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd were given a $0.25 dividend. The ex-dividend date was Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.16%. Raymond James Financial’s dividend payout ratio (DPR) is 24.27%.

In other Raymond James Financial news, Vice Chairman Francis S. Godbold sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was 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, insider Tashtego S. Elwyn sold 8,997 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $85.17, for a total value of $766,274.49. Following the completion of the transaction, the insider now directly owns 22,178 shares in the company, valued at $1,888,900.26. The disclosure for this sale can be found here. Insiders sold 325,479 shares of company stock worth $28,161,533 over the last three months. 10.46% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on RJF shares. Buckingham Research increased their target price on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $95.00 target price (up from $82.00) on shares of Raymond James Financial in a research report on Tuesday, January 16th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $110.00 target price (up from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $102.00 target price on shares of Raymond James Financial in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Raymond James Financial presently has a consensus rating of “Buy” and a consensus price target of $99.29.

TRADEMARK VIOLATION NOTICE: This report was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2018/02/09/first-mercantile-trust-co-has-663000-stake-in-raymond-james-financial-inc-rjf.html.

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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF).

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

Receive News & Ratings for Raymond James Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply