Fifth Third Wealth Advisors LLC Decreases Position in Raymond James Financial, Inc. $RJF

Fifth Third Wealth Advisors LLC lessened its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,357 shares of the financial services provider’s stock after selling 222 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Raymond James Financial were worth $515,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after acquiring an additional 347,916 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Raymond James Financial by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after acquiring an additional 29,086 shares during the period. Invesco Ltd. increased its position in shares of Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after acquiring an additional 466,129 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Raymond James Financial by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock valued at $324,390,000 after acquiring an additional 178,262 shares during the period. Finally, Northern Trust Corp increased its position in shares of Raymond James Financial by 6.7% in the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock valued at $312,259,000 after acquiring an additional 140,704 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Trading Down 2.3%

Shares of Raymond James Financial stock opened at $160.36 on Monday. The firm has a market capitalization of $31.97 billion, a PE ratio of 15.72, a P/E/G ratio of 1.22 and a beta of 1.03. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The firm’s 50-day moving average price is $167.78 and its 200 day moving average price is $154.55. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last issued its quarterly 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 company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.39 earnings per share. On average, sell-side analysts predict 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 will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is 19.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. Morgan Stanley increased their price target on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets initiated coverage on Raymond James Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $172.20.

Raymond James Financial 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.