SPC Financial Inc. Has $1.62 Million Stake in Raymond James Financial, Inc. $RJF

SPC Financial Inc. trimmed its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,556 shares of the financial services provider’s stock after selling 394 shares during the period. SPC Financial Inc.’s holdings in Raymond James Financial were worth $1,619,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. D.A. Davidson & CO. raised its stake in shares of Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after buying an additional 197 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in shares of Raymond James Financial during the second quarter worth approximately $222,000. Swedbank AB raised its stake in shares of Raymond James Financial by 173.0% during the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 20,022 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after buying an additional 123 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Raymond James Financial by 13.8% during the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock worth $3,470,000 after buying an additional 3,035 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 2.3%

Shares of NYSE:RJF opened at $160.36 on Friday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market capitalization of $31.97 billion, a PE ratio of 15.72, a PEG ratio of 1.23 and a beta of 1.03. The company has a 50 day moving average price of $167.78 and a two-hundred day moving average price of $154.47.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company posted $2.39 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio is currently 19.61%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One 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, the stock has a consensus rating of “Hold” and an average price target of $172.20.

About Raymond James Financial

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.