Avity Investment Management Inc. Decreases Holdings in Raymond James Financial, Inc. $RJF

Avity Investment Management Inc. cut its stake in Raymond James Financial, Inc. (NYSE:RJF) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,628 shares of the financial services provider’s stock after selling 13,078 shares during the quarter. Raymond James Financial comprises about 1.8% of Avity Investment Management Inc.’s investment portfolio, making the stock its 26th biggest position. Avity Investment Management Inc. owned 0.07% of Raymond James Financial worth $24,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Raymond James Financial in the second quarter valued at about $354,446,000. JPMorgan Chase & Co. lifted its position in Raymond James Financial by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock worth $861,479,000 after acquiring an additional 1,651,380 shares in the last quarter. First Trust Advisors LP boosted its holdings in Raymond James Financial by 39.9% in the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after acquiring an additional 709,315 shares during the period. American Century Companies Inc. boosted its holdings in Raymond James Financial by 179.8% in the 2nd quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock worth $105,581,000 after acquiring an additional 442,340 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Raymond James Financial in the third quarter valued at approximately $69,861,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays began coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price on the stock. Bank of America raised their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Stock Up 0.5%

Shares of Raymond James Financial stock opened at $144.53 on Wednesday. The business has a 50-day moving average price of $161.41 and a 200 day moving average price of $162.96. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The firm has a market cap of $28.49 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.07 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the business posted $2.93 EPS. Raymond James Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.