Janney Montgomery Scott LLC Has $3.77 Million Stock Position in Raymond James Financial, Inc. $RJF

Janney Montgomery Scott LLC cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 23.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 26,040 shares of the financial services provider’s stock after selling 7,924 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Raymond James Financial were worth $3,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Invesco Ltd. boosted its position in Raymond James Financial by 12.2% in the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after buying an additional 254,773 shares in the last quarter. Norges Bank acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $324,263,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Raymond James Financial by 22.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock worth $192,987,000 after buying an additional 216,907 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RJF shares. Morgan Stanley increased their price target on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group lowered their price objective 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. UBS Group reiterated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Barclays restated an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.92.

Raymond James Financial Trading Up 0.6%

NYSE RJF traded up $0.99 during mid-day trading on Tuesday, reaching $167.41. 39,080 shares of the stock were exchanged, compared to its average volume of 1,430,591. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The stock has a 50 day simple moving average of $153.39 and a 200-day simple moving average of $156.11. The stock has a market cap of $32.62 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

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, analysts anticipate that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Raymond James Financial 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.