Parallel Advisors LLC Sells 732 Shares of Raymond James Financial, Inc. $RJF

Parallel Advisors LLC reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 30.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,651 shares of the financial services provider’s stock after selling 732 shares during the period. Parallel Advisors LLC’s holdings in Raymond James Financial were worth $253,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in Raymond James Financial by 3.6% during the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after purchasing an additional 197 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Raymond James Financial during the 4th quarter valued at about $9,366,000. Assenagon Asset Management S.A. increased its position in Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock valued at $3,470,000 after acquiring an additional 3,035 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock valued at $65,058,000 after acquiring an additional 3,691 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Price Performance

NYSE:RJF opened at $174.15 on Monday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $175.27. The company has a market cap of $34.72 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.43 and a beta of 1.04. The firm’s fifty day moving average price is $165.82 and its two-hundred day moving average price is $151.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company posted $2.39 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Raymond James Financial’s dividend payout ratio is 19.61%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. JMP Securities raised their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target of $163.80.

About Raymond James Financial

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.