Raymond James Financial, Inc. $RJF Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,410 shares of the financial services provider’s stock after selling 22,822 shares during the period. Baird Financial Group Inc. owned about 0.14% of Raymond James Financial worth $43,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Waterloo Capital L.P. lifted its stake in shares of Raymond James Financial by 2.0% during the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock valued at $506,000 after buying an additional 64 shares during the period. Level Four Advisory Services LLC grew its stake in Raymond James Financial by 2.4% in the 2nd quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 67 shares during the period. Capital Investment Advisors LLC raised its holdings in Raymond James Financial by 0.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock valued at $1,170,000 after acquiring an additional 68 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Raymond James Financial by 5.5% during the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 78 shares during the period. Finally, Tectonic Advisors LLC lifted its stake in shares of Raymond James Financial by 2.6% during the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 80 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods lifted their price target on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. BMO Capital Markets increased their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Finally, TD Cowen boosted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Trading Up 2.5%

Shares of RJF opened at $162.70 on Friday. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The stock’s 50-day moving average is $161.35 and its two-hundred day moving average is $160.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04. The stock has a market cap of $32.00 billion, a PE ratio of 15.81, a P/E/G ratio of 1.18 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.95 EPS. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, January 2nd. Raymond James Financial’s payout ratio is 19.44%.

Raymond James Financial Company 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.