Metis Global Partners LLC Reduces Stock Position in Raymond James Financial, Inc. $RJF

Metis Global Partners LLC decreased its position in Raymond James Financial, Inc. (NYSE:RJF) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,301 shares of the financial services provider’s stock after selling 820 shares during the quarter. Metis Global Partners LLC’s holdings in Raymond James Financial were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Capital Investment Advisors LLC raised its position in shares of Raymond James Financial by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock valued at $1,170,000 after buying an additional 68 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Raymond James Financial by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 73 shares during the period. EP Wealth Advisors LLC grew its stake in Raymond James Financial by 5.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 78 shares during the period. Tectonic Advisors LLC raised its holdings in Raymond James Financial by 2.6% in the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 80 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its stake in shares of Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 81 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 0.7%

Shares of NYSE:RJF opened at $162.00 on Tuesday. The stock has a 50-day simple moving average of $165.96 and a 200-day simple moving average of $158.84. The stock has a market capitalization of $32.30 billion, a P/E ratio of 15.74, a PEG ratio of 1.19 and a beta of 1.05. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company posted $2.95 earnings per share. Raymond James Financial’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.44%.

Analysts Set New Price Targets

RJF has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. BMO Capital Markets increased their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Morgan Stanley boosted 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 report on Wednesday, October 1st. Finally, TD Cowen increased their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.20.

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.