Allianz Asset Management GmbH Has $7.27 Million Stock Holdings in Raymond James Financial, Inc. $RJF

Allianz Asset Management GmbH trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 67.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 47,387 shares of the financial services provider’s stock after selling 99,395 shares during the period. Allianz Asset Management GmbH’s holdings in Raymond James Financial were worth $7,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Raymond James Financial by 82.6% during the 1st quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 2,197 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Raymond James Financial by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,003 shares of the financial services provider’s stock worth $6,112,000 after purchasing an additional 1,375 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Raymond James Financial during the 1st quarter worth $907,000. Asset Management One Co. Ltd. grew its holdings in shares of Raymond James Financial by 10.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 82,808 shares of the financial services provider’s stock worth $11,503,000 after purchasing an additional 7,715 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in shares of Raymond James Financial by 0.8% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 96,778 shares of the financial services provider’s stock worth $13,443,000 after purchasing an additional 765 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

Shares of RJF stock opened at $165.90 on Thursday. 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 twelve month low of $117.57 and a twelve month high of $177.66. The company has a market cap of $33.08 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.26 and a beta of 1.03. The business has a fifty day simple moving average of $167.38 and a 200 day simple moving average of $155.82.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data 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 18.38% and a net margin of 13.56%.The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the company earned $2.95 EPS. Raymond James Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.50 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RJF shares. BMO Capital Markets started coverage on Raymond James Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price on the stock. Wells Fargo & Company increased their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Morgan Stanley increased 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $172.20.

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.