Fox Run Management L.L.C. Sells 7,435 Shares of Raymond James Financial, Inc. $RJF

Fox Run Management L.L.C. trimmed its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 64.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,015 shares of the financial services provider’s stock after selling 7,435 shares during the quarter. Fox Run Management L.L.C.’s holdings in Raymond James Financial were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Raymond James Financial by 1.6% during 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 last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Raymond James Financial by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock worth $574,590,000 after purchasing an additional 29,086 shares during the last quarter. Invesco Ltd. grew its position in 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 worth $403,038,000 after purchasing an additional 466,129 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Raymond James Financial by 8.3% during 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 buying an additional 178,262 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Raymond James Financial by 6.7% during 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 buying an additional 140,704 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Finally, JMP Securities upped their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. One equities 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. Based on data from 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 $162.00 on Tuesday. The company has a market capitalization of $32.30 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.19 and a beta of 1.05. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The firm’s 50 day simple moving average is $165.96 and its two-hundred day simple moving average is $158.84. 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 announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 earnings per share. Research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.44%.

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.