Raymond James Financial, Inc. $RJF Stock Holdings Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Raymond James Financial, Inc. (NYSE:RJF) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,599 shares of the financial services provider’s stock after selling 1,510 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Raymond James Financial were worth $2,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its holdings in Raymond James Financial by 78.0% in the second quarter. Sequoia Financial Advisors LLC now owns 5,750 shares of the financial services provider’s stock valued at $882,000 after buying an additional 2,520 shares during the last quarter. Vest Financial LLC boosted its stake in Raymond James Financial by 39.5% in the second quarter. Vest Financial LLC now owns 292,266 shares of the financial services provider’s stock valued at $44,825,000 after acquiring an additional 82,695 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Raymond James Financial by 3.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 107,634 shares of the financial services provider’s stock valued at $16,645,000 after acquiring an additional 3,842 shares during the period. CWM LLC boosted its stake in Raymond James Financial by 1.6% in the second quarter. CWM LLC now owns 28,043 shares of the financial services provider’s stock valued at $4,301,000 after acquiring an additional 447 shares during the period. Finally, Board of the Pension Protection Fund boosted its stake in Raymond James Financial by 27.6% in the second quarter. Board of the Pension Protection Fund now owns 7,400 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 1,600 shares during the period. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on RJF. JMP Securities lifted their target price on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. BMO Capital Markets began coverage on Raymond James Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $180.00 target price for the company. Morgan Stanley lifted their target price on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Wells Fargo & Company lifted their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $160.12 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $167.45 and a 200-day simple moving average of $154.96. The company has a market cap of $31.92 billion, a PE ratio of 15.70, a P/E/G ratio of 1.25 and a beta of 1.03. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

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. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.61%.

About Raymond James Financial

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.