Raymond James (RJF) Stake Decreased by Voya Investment Management LLC
Voya Investment Management LLC trimmed its holdings in Raymond James (NYSE:RJF) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,692 shares of the financial services provider’s stock after selling 4,884 shares during the quarter. Voya Investment Management LLC’s holdings in Raymond James were worth $5,780,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Raymond James by 1.9% in the first quarter. BlackRock Inc. now owns 8,647,915 shares of the financial services provider’s stock worth $773,210,000 after buying an additional 164,613 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Raymond James by 7.7% in the second quarter. Wells Fargo & Company MN now owns 4,521,398 shares of the financial services provider’s stock worth $403,986,000 after buying an additional 322,014 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Raymond James by 51.0% in the second quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock worth $167,759,000 after buying an additional 634,378 shares during the period. Millennium Management LLC raised its holdings in shares of Raymond James by 75.1% in the first quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock worth $101,970,000 after buying an additional 489,310 shares during the period. Finally, FMR LLC raised its holdings in shares of Raymond James by 30.0% in the second quarter. FMR LLC now owns 959,737 shares of the financial services provider’s stock worth $85,753,000 after buying an additional 221,379 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Raymond James from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Citigroup increased their price target on Raymond James from $95.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, June 15th. JMP Securities upgraded Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. ValuEngine downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Finally, Wolfe Research assumed coverage on Raymond James in a report on Tuesday. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $103.75.
RJF opened at $93.86 on Wednesday. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.83 and a beta of 1.65. Raymond James has a 52 week low of $81.90 and a 52 week high of $102.17. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44.
Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.17). The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Raymond James had a return on equity of 15.66% and a net margin of 10.87%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. equities research analysts forecast that Raymond James will post 6.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.20 annualized dividend and a yield of 1.28%. Raymond James’s payout ratio is currently 22.94%.
About Raymond James
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.
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