Raymond James Financial, Inc. $RJF Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its position in Raymond James Financial, Inc. (NYSE:RJF) by 89.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,612 shares of the financial services provider’s stock after selling 40,090 shares during the period. Citizens Financial Group Inc. RI’s holdings in Raymond James Financial were worth $668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. Fifth Third Bancorp increased its stake in shares of Raymond James Financial by 114.4% in the 1st quarter. Fifth Third Bancorp now owns 56,970 shares of the financial services provider’s stock valued at $8,249,000 after purchasing an additional 30,395 shares in the last quarter. Peterson Wealth Services lifted its holdings in Raymond James Financial by 1.5% during the first quarter. Peterson Wealth Services now owns 61,861 shares of the financial services provider’s stock valued at $8,957,000 after purchasing an additional 931 shares in the last quarter. Millstone Evans Group LLC grew its position in shares of Raymond James Financial by 1.8% in the first quarter. Millstone Evans Group LLC now owns 19,339 shares of the financial services provider’s stock valued at $2,800,000 after purchasing an additional 344 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Raymond James Financial by 18.1% during the first quarter. Kestra Advisory Services LLC now owns 29,934 shares of the financial services provider’s stock worth $4,334,000 after purchasing an additional 4,577 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of Raymond James Financial by 1.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 59,974 shares of the financial services provider’s stock worth $8,640,000 after purchasing an additional 796 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

NYSE:RJF opened at $167.55 on Wednesday. The company has a market cap of $32.65 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.06 and a beta of 0.93. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company’s 50-day moving average price is $154.74 and its 200-day moving average price is $156.27. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. Raymond James Financial’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.84 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RJF shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. UBS Group reissued a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a report on Wednesday, July 8th. Citizens Jmp lifted their price target on Raymond James Financial from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 9th. Finally, Barclays lifted their price target on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $176.64.

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.