ProShare Advisors LLC Sells 5,121 Shares of Raymond James Financial, Inc. $RJF

ProShare Advisors LLC cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,560 shares of the financial services provider’s stock after selling 5,121 shares during the quarter. ProShare Advisors LLC’s holdings in Raymond James Financial were worth $7,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Princeton Global Asset Management LLC lifted its stake in shares of Raymond James Financial by 69.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares during the last quarter. TCTC Holdings LLC lifted its position 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 buying an additional 121 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Raymond James Financial by 364.3% during the 1st 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. TD Private Client Wealth LLC increased its holdings in shares of Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 108 shares during the last quarter. Finally, South Dakota Investment Council increased its holdings in shares of Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the subject of several analyst reports. JMP Securities boosted their target price on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Finally, Morgan Stanley upped their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Stock Up 1.5%

RJF stock opened at $166.01 on Thursday. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company has a market cap of $33.10 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The business’s 50-day simple moving average is $165.85 and its 200 day simple moving average is $159.08. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.Raymond James Financial’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio 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.