Truist Financial Corp Sells 31,167 Shares of Raymond James (NYSE:RJF)

Truist Financial Corp reduced its position in shares of Raymond James (NYSE:RJF - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 426,118 shares of the financial services provider's stock after selling 31,167 shares during the period. Truist Financial Corp owned 0.21% of Raymond James worth $66,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Raymond James during the third quarter valued at about $34,000. Y.D. More Investments Ltd lifted its position in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Raymond James during the 3rd quarter valued at approximately $37,000. Quarry LP grew its holdings in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new position in Raymond James in the 4th quarter worth approximately $68,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

NYSE:RJF traded down $3.73 on Friday, reaching $151.34. The stock had a trading volume of 1,668,672 shares, compared to its average volume of 1,355,329. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $31.01 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The stock has a fifty day moving average price of $161.30 and a 200-day moving average price of $145.05.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Research analysts forecast that Raymond James will post 11.12 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James's dividend payout ratio is 19.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a research note on Thursday, January 30th. StockNews.com cut Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James presently has an average rating of "Hold" and a consensus target price of $166.09.

Insider Buying and Selling

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company's stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company's stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.