Raymond James Trust N.A. trimmed its holdings in shares of Raymond James (NYSE:RJF) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,317 shares of the financial services provider’s stock after selling 2,675 shares during the period. Raymond James Trust N.A. owned approximately 0.07% of Raymond James worth $7,584,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Raymond James in the 1st quarter valued at $217,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Raymond James in the 1st quarter valued at $1,172,000. Truvestments Capital LLC acquired a new position in shares of Raymond James in the 1st quarter valued at $627,000. Cardinal Capital Management boosted its position in shares of Raymond James by 1.1% in the 1st quarter. Cardinal Capital Management now owns 20,574 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 226 shares during the period. Finally, We Are One Seven LLC boosted its position in shares of Raymond James by 86.3% in the 1st quarter. We Are One Seven LLC now owns 6,556 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 3,036 shares during the period. 71.56% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on RJF. ValuEngine upgraded Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Thursday, April 4th. Citigroup increased their price target on Raymond James from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Co increased their price target on Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $94.63.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. On average, equities analysts forecast that Raymond James will post 7.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, March 29th. Raymond James’s dividend payout ratio is currently 21.02%.
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Raymond James 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.
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