Raymond James Financial, Inc. $RJF Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lessened its stake in Raymond James Financial, Inc. (NYSE:RJF) by 6.2% in the 2nd quarter, according to its most recent filing with the SEC. 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 institutional investors have also recently added to or reduced their stakes in RJF. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial in the first quarter worth $27,000. Golden State Wealth Management LLC grew its stake in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial in the first quarter worth $33,000. TCTC Holdings LLC grew its stake in shares of Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 121 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Raymond James Financial by 364.3% in the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of several research reports. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of 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 shares of Raymond James Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $180.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.20.

Raymond James Financial Price Performance

Shares of RJF opened at $160.36 on Monday. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The stock has a market cap of $31.97 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a fifty day moving average price of $167.78 and a 200 day moving average price of $154.55.

Raymond James Financial (NYSE:RJF) last announced 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). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm earned $2.39 earnings per share. Raymond James Financial’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

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

Raymond James Financial Company 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.