KBC Group NV Sells 99,332 Shares of Raymond James Financial, Inc. $RJF

KBC Group NV cut its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 54.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,113 shares of the financial services provider’s stock after selling 99,332 shares during the period. KBC Group NV’s holdings in Raymond James Financial were worth $12,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Raymond James Financial by 15.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,736 shares of the financial services provider’s stock worth $14,836,000 after purchasing an additional 13,215 shares during the last quarter. National Pension Service grew its position in shares of Raymond James Financial by 0.8% during the 2nd quarter. National Pension Service now owns 276,317 shares of the financial services provider’s stock worth $42,379,000 after buying an additional 2,174 shares during the period. Vise Technologies Inc. bought a new stake in shares of Raymond James Financial during the second quarter worth approximately $482,000. Allworth Financial LP lifted its holdings in Raymond James Financial by 10.9% in the second quarter. Allworth Financial LP now owns 826 shares of the financial services provider’s stock valued at $127,000 after buying an additional 81 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in Raymond James Financial by 32.5% in the second quarter. Illinois Municipal Retirement Fund now owns 169,931 shares of the financial services provider’s stock valued at $26,062,000 after acquiring an additional 41,652 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 1.6%

NYSE:RJF opened at $158.67 on Friday. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a market cap of $31.64 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.19 and a beta of 1.05. The stock has a 50-day moving average price of $165.51 and a two-hundred day moving average price of $159.24.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $2.95 earnings per share. Raymond James Financial’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s payout ratio is presently 19.44%.

Analyst Upgrades and Downgrades

Several analysts have commented on RJF shares. Morgan Stanley upped their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. BMO Capital Markets upped their price objective on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, JMP Securities upped their price target on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average target price of $177.20.

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.