Hsbc Holdings PLC Sells 165,872 Shares of Raymond James Financial, Inc. $RJF

Hsbc Holdings PLC lessened its position in Raymond James Financial, Inc. (NYSE:RJF) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,134,580 shares of the financial services provider’s stock after selling 165,872 shares during the period. Hsbc Holdings PLC’s holdings in Raymond James Financial were worth $182,377,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Raymond James Financial during the fourth quarter valued at approximately $324,263,000. First Trust Advisors LP lifted its stake in Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Raymond James Financial in the third quarter worth $69,861,000. PFA Pension Forsikringsaktieselskab bought a new stake in Raymond James Financial in the fourth quarter valued at $64,640,000. Finally, AQR Capital Management LLC boosted its holdings in Raymond James Financial by 40.0% in the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after acquiring an additional 313,587 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF opened at $162.57 on Friday. The business’s fifty day simple moving average is $153.14 and its two-hundred day simple moving average is $156.13. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.25 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s payout ratio is 20.42%.

Analysts Set New Price Targets

RJF has been the subject of several research reports. UBS Group restated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets increased their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Morgan Stanley lifted their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.