Raymond James Financial, Inc. $RJF Shares Sold by ABC Arbitrage SA

ABC Arbitrage SA trimmed its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 42.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,798 shares of the financial services provider’s stock after selling 1,327 shares during the quarter. ABC Arbitrage SA’s holdings in Raymond James Financial were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RJF. Princeton Global Asset Management LLC grew its stake in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the period. Larson Financial Group LLC grew its position in Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after buying an additional 255 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after buying an additional 108 shares during the period. Finally, South Dakota Investment Council raised its position in shares of Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock worth $61,000 after buying an additional 300 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. BMO Capital Markets increased their price target on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. JMP Securities boosted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Finally, Morgan Stanley lifted their target price on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Price Performance

RJF opened at $166.01 on Thursday. The firm has a market capitalization of $33.10 billion, a P/E ratio of 16.13, a PEG ratio of 1.19 and a beta of 1.05. The stock has a fifty day moving average of $165.85 and a 200-day moving average of $159.08. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66.

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

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 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.