Quantinno Capital Management LP Has $21.52 Million Stock Holdings in Raymond James Financial, Inc. $RJF

Quantinno Capital Management LP decreased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,644 shares of the financial services provider’s stock after selling 10,083 shares during the quarter. Quantinno Capital Management LP owned about 0.08% of Raymond James Financial worth $21,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the fourth quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $32,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter worth $35,000. DV Equities LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter worth $40,000. Finally, Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.7%

Shares of RJF stock opened at $176.12 on Friday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $178.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The stock has a fifty day moving average price of $159.33 and a 200 day moving average price of $156.89. The stock has a market cap of $34.32 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, Barclays lifted their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Transactions at Raymond James Financial

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.

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.