Venturi Wealth Management LLC Sells 217 Shares of Raymond James Financial, Inc. $RJF

Venturi Wealth Management LLC cut its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,101 shares of the financial services provider’s stock after selling 217 shares during the period. Venturi Wealth Management LLC’s holdings in Raymond James Financial were worth $476,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Raymond James Financial in the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its stake in shares of 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 buying an additional 123 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial during the 1st quarter valued at approximately $33,000. TCTC Holdings LLC lifted its stake in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after buying an additional 121 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake 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 worth $45,000 after purchasing an additional 255 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RJF. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Morgan Stanley raised their price target on shares of 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 investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.20.

Raymond James Financial Stock Down 0.8%

Shares of Raymond James Financial stock opened at $163.88 on Friday. 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 stock has a market capitalization of $32.67 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a 50-day simple moving average of $167.84 and a two-hundred day simple moving average of $154.30.

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

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s payout ratio is 19.61%.

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.