Citizens Financial Group Inc. RI Sells 1,709 Shares of Raymond James Financial, Inc. $RJF

Citizens Financial Group Inc. RI lessened its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 3.5% in the second quarter, HoldingsChannel.com reports. The firm owned 46,463 shares of the financial services provider’s stock after selling 1,709 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Raymond James Financial were worth $7,126,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RJF. Princeton Global Asset Management LLC increased its position in shares of Raymond James Financial by 69.0% during the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after buying an additional 100 shares during the period. TCTC Holdings LLC lifted its holdings in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after buying an additional 121 shares during the period. Larson Financial Group LLC boosted its position in Raymond James Financial by 364.3% during the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 108 shares during the period. Finally, South Dakota Investment Council raised its position in shares of Raymond James Financial by 300.0% in the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RJF shares. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. BMO Capital Markets increased their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Morgan Stanley lifted their price objective on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average price target of $177.20.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $158.67 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The stock’s 50 day moving average is $165.51 and its 200-day moving average is $159.54. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) 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 business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $2.95 EPS. Raymond James Financial’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

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

Raymond James Financial Company 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.