Fifth Third Bancorp Has $4.56 Million Holdings in Raymond James (NYSE:RJF)

Fifth Third Bancorp cut its position in shares of Raymond James (NYSE:RJF - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,799 shares of the financial services provider's stock after selling 2,993 shares during the period. Fifth Third Bancorp's holdings in Raymond James were worth $4,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in shares of Raymond James by 2.2% in the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after purchasing an additional 137,277 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Raymond James by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock valued at $680,378,000 after purchasing an additional 40,576 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Raymond James by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after purchasing an additional 24,195 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Raymond James by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock valued at $378,276,000 after purchasing an additional 192,904 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Raymond James by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RJF shares. Bank of America cut shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Citigroup lowered their price target on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley boosted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price target on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $153.82.

Raymond James Stock Down 2.1%

Shares of RJF stock traded down $3.13 during mid-day trading on Friday, reaching $145.48. 917,923 shares of the company were exchanged, compared to its average volume of 1,324,139. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market capitalization of $29.35 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.90 and a beta of 1.03. The business's 50 day simple moving average is $142.57 and its 200 day simple moving average is $150.89.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. Research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's payout ratio is 19.25%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider now directly owns 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Raymond James 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.