Raymond James Financial, Inc. $RJF Shares Sold by Ellevest Inc.

Ellevest Inc. decreased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 40.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619 shares of the financial services provider’s stock after selling 1,122 shares during the quarter. Ellevest Inc.’s holdings in Raymond James Financial were worth $248,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RJF. Vanguard Group Inc. boosted its position in Raymond James Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock worth $3,089,942,000 after purchasing an additional 347,916 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Raymond James Financial by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock worth $574,590,000 after buying an additional 29,086 shares during the last quarter. Invesco Ltd. boosted its position in shares of Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock valued at $324,390,000 after acquiring an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp raised its position in Raymond James Financial by 6.7% during the first quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock worth $312,259,000 after acquiring an additional 140,704 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RJF has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Morgan Stanley increased their target price on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. JMP Securities raised their price target on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and an average target price of $177.20.

Raymond James Financial Price Performance

RJF stock opened at $160.93 on Friday. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. 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 52-week low of $117.57 and a 52-week high of $177.66. The stock’s fifty day simple moving average is $166.24 and its 200-day simple moving average is $158.12.

Raymond James Financial (NYSE:RJF) last released its earnings results 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. The firm 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 18.33% and a net margin of 13.42%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.95 earnings per share. Equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is 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.