Candriam S.C.A. Decreases Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• Candriam S.C.A. reduced its stake in Raymond James Financial, Inc. by 17.3%, owning 17,202 shares valued at $2.39 million after selling 3,608 shares in the first quarter.
• Raymond James Financial reported quarterly earnings of $2.18 per share, missing estimates of $2.36, despite revenue of $3.40 billion reflecting a 5.3% year-over-year increase.
• The company declared a $0.50 quarterly dividend, with a payout ratio of 19.61% and a dividend yield of 1.2%, payable on October 15.

Candriam S.C.A. trimmed its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,202 shares of the financial services provider's stock after selling 3,608 shares during the period. Candriam S.C.A.'s holdings in Raymond James Financial were worth $2,390,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Guggenheim Capital LLC raised its stake in shares of Raymond James Financial by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 4,006 shares of the financial services provider's stock worth $622,000 after purchasing an additional 241 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Raymond James Financial by 1.9% during the 4th quarter. MML Investors Services LLC now owns 22,884 shares of the financial services provider's stock worth $3,555,000 after purchasing an additional 417 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Raymond James Financial by 32.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 480,948 shares of the financial services provider's stock worth $74,707,000 after purchasing an additional 117,049 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Raymond James Financial by 2.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,658 shares of the financial services provider's stock worth $879,000 after purchasing an additional 131 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Raymond James Financial during the 4th quarter worth about $4,652,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Price Performance

RJF traded up $0.46 during midday trading on Friday, reaching $169.17. 126,208 shares of the company's stock were exchanged, compared to its average volume of 1,288,369. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market capitalization of $33.73 billion, a PE ratio of 16.57, a P/E/G ratio of 1.38 and a beta of 1.05. The business's 50-day moving average price is $161.44 and its 200 day moving average price is $150.12. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Raymond James Financial's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's payout ratio is currently 19.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on RJF. Morgan Stanley increased their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has an average rating of "Hold" and an average target price of $163.80.

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.