Integrated Advisors Network LLC Has $535,000 Position in Raymond James Financial, Inc. $RJF

Integrated Advisors Network LLC lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 71.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,697 shares of the financial services provider’s stock after selling 9,121 shares during the quarter. Integrated Advisors Network LLC’s holdings in Raymond James Financial were worth $535,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Raymond James Financial during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial during the fourth quarter valued at $32,000. Harbor Investment Advisory LLC raised its stake in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial during the fourth quarter worth $35,000. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 228 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Citizens Jmp upped their price target on Raymond James Financial from $190.00 to $200.00 and gave the company a “market outperform” rating in a research report on Thursday. Jefferies Financial Group decreased their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $175.33.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $168.52 on Friday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The firm has a fifty day simple moving average of $154.15 and a 200 day simple moving average of $156.23. The company has a market capitalization of $32.84 billion, a PE ratio of 15.93, a P/E/G ratio of 1.28 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.76 EPS for the current year.

Raymond James Financial Announces Dividend

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

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.