Raymond James Financial, Inc. $RJF Holdings Lowered by Patton Fund Management Inc.

Patton Fund Management Inc. trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 58.6% in the first quarter, HoldingsChannel.com reports. The firm owned 9,008 shares of the financial services provider’s stock after selling 12,771 shares during the quarter. Patton Fund Management Inc.’s holdings in Raymond James Financial were worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RJF. Kingsview Wealth Management LLC grew its position in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares in the last quarter. Algebris UK Ltd. bought a new position in shares of Raymond James Financial in the fourth quarter worth about $10,179,000. Fisher Asset Management LLC lifted its holdings in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after purchasing an additional 7,202 shares during the last quarter. Finally, Swedbank AB raised its position in shares of Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

Shares of RJF stock opened at $150.52 on Monday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $152.72 and its 200-day moving average is $156.34. The firm has a market capitalization of $29.33 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.15 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates 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 for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. Sell-side analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. TD Cowen cut their target price on shares of 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 issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets increased their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Finally, Morgan Stanley raised their target price 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. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $172.92.

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.