Fideuram Intesa Sanpaolo Private Banking S.P.A. Trims Stock Holdings in Raymond James Financial, Inc. $RJF

Fideuram Intesa Sanpaolo Private Banking S.P.A. reduced its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 27.2% in the first quarter, Holdings Channel.com reports. The fund owned 50,839 shares of the financial services provider’s stock after selling 18,955 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Raymond James Financial were worth $7,361,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RJF. Great Valley Advisor Group Inc. lifted its holdings in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares in the last quarter. Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Raymond James Financial by 2.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after buying an additional 68 shares in the last quarter. Bridgewater Advisors Inc. raised its position in shares of Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 68 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 2.8%

Shares of NYSE:RJF opened at $162.57 on Friday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The stock has a market cap of $31.68 billion, a P/E ratio of 15.37, a PEG ratio of 1.21 and a beta of 0.93. The business has a fifty day moving average of $152.97 and a two-hundred day moving average of $156.08. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $2.42 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RJF shares. Jefferies Financial Group decreased their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, TD Cowen decreased their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Company Profile

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.