State of Tennessee Treasury Department lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 57.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,878 shares of the financial services provider’s stock after selling 102,524 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.05% of Raymond James Financial worth $6,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RJF. YorkBridge Wealth Partners LLC increased its position in Raymond James Financial by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 66 shares in the last quarter. Burt Wealth Advisors purchased a new stake in Raymond James Financial during the 2nd quarter worth about $150,000. Pacer Advisors Inc. increased its position in Raymond James Financial by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 206 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Raymond James Financial during the 2nd quarter worth about $225,000. Finally, FNY Partners Fund LP increased its position in Raymond James Financial by 3,103.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 3,103 shares in the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.

Raymond James Financial, Inc. (NYSE:RJF) opened at $83.37 on Tuesday. The firm has a market capitalization of $12,046.88, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.84 and a beta of 1.71. Raymond James Financial, Inc. has a 52-week low of $68.20 and a 52-week high of $87.22. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.48.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.15. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. equities analysts predict that Raymond James Financial, Inc. will post 5.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 29th. This represents a $0.88 annualized dividend and a yield of 1.06%. Raymond James Financial’s payout ratio is 20.32%.

RJF has been the topic of several research analyst reports. BidaskClub lowered Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, August 29th. Buckingham Research lifted their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Zacks Investment Research downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $90.00 in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $89.67.

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About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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