Investors Sell Shares of Raymond James (RJF) on Strength (RJF)

Traders sold shares of Raymond James (NYSE:RJF) on strength during trading hours on Thursday. $21.19 million flowed into the stock on the tick-up and $68.41 million flowed out of the stock on the tick-down, for a money net flow of $47.22 million out of the stock. Of all equities tracked, Raymond James had the 33rd highest net out-flow for the day. Raymond James traded up $0.39 for the day and closed at $89.19

Several brokerages have commented on RJF. Citigroup raised their price objective on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Wells Fargo & Co lifted their target price on shares of Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Finally, Argus initiated coverage on shares of Raymond James in a report on Wednesday, March 6th. They set a “buy” rating and a $92.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Raymond James has a consensus rating of “Buy” and an average price target of $94.63.

The firm has a market cap of $12.34 billion, a PE ratio of 13.79 and a beta of 1.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.10 and a current ratio of 1.12.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business earned $1.61 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, analysts expect that Raymond James will post 7.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.34 per share. The ex-dividend date was Friday, March 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.52%. Raymond James’s payout ratio is 21.02%.

Several hedge funds have recently added to or reduced their stakes in RJF. CSat Investment Advisory L.P. increased its position in shares of Raymond James by 86.5% during the fourth quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 160 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $26,000. Bremer Trust National Association bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $31,000. Executive Wealth Management LLC bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $33,000. Finally, Private Capital Group LLC increased its position in shares of Raymond James by 103.4% during the fourth quarter. Private Capital Group LLC now owns 708 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 71.58% of the company’s stock.

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Raymond James Company Profile (NYSE:RJF)

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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