Raymond James Financial, Inc. $RJF Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,597,168 shares of the financial services provider’s stock after selling 92,709 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Raymond James Financial worth $701,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Princeton Global Asset Management LLC grew its stake in shares of Raymond James Financial by 69.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares during the last quarter. TCTC Holdings LLC boosted its holdings in Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after buying an additional 121 shares in the last quarter. Larson Financial Group LLC grew its position in Raymond James Financial by 364.3% in the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock worth $45,000 after buying an additional 255 shares during the last quarter. TD Private Client Wealth LLC grew its position in Raymond James Financial by 47.2% in the second quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock worth $52,000 after buying an additional 108 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Raymond James Financial in the first quarter valued at $60,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on RJF. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. TD Cowen lifted their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average target price of $177.20.

Raymond James Financial Price Performance

NYSE RJF opened at $158.67 on Friday. The company has a 50 day simple moving average of $165.51 and a 200-day simple moving average of $159.24. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business earned $2.95 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s payout ratio is currently 19.44%.

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.