Raymond James Financial, Inc. $RJF Stake Cut by AlphaQuest LLC

AlphaQuest LLC cut its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 88.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,432 shares of the financial services provider’s stock after selling 10,772 shares during the quarter. AlphaQuest LLC’s holdings in Raymond James Financial were worth $220,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RJF. Oregon Public Employees Retirement Fund lifted its stake in Raymond James Financial by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,810 shares of the financial services provider’s stock worth $2,196,000 after purchasing an additional 110 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after buying an additional 197 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Raymond James Financial by 6.9% in the first quarter. IFM Investors Pty Ltd now owns 40,548 shares of the financial services provider’s stock valued at $5,633,000 after buying an additional 2,627 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Raymond James Financial by 59.0% in the first quarter. Catalyst Capital Advisors LLC now owns 2,560 shares of the financial services provider’s stock valued at $356,000 after buying an additional 950 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new stake in Raymond James Financial in the first quarter valued at $33,000. 83.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RJF. Wells Fargo & Company raised their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods raised their target price on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, TD Cowen raised their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.20.

Raymond James Financial Stock Up 0.4%

RJF opened at $158.71 on Friday. The business has a 50 day moving average price of $166.91 and a 200 day moving average price of $157.56. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market cap of $31.64 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the company earned $2.95 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s payout ratio is 19.44%.

Raymond James Financial Profile

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.