Hsbc Holdings PLC Has $182.38 Million Stake in Raymond James Financial, Inc. $RJF

Key Points

• HSBC Holdings PLC reduced its stake in Raymond James Financial by 12.8% in the fourth quarter, selling 165,872 shares and leaving it with 1,134,580 shares valued at about $182.4 million.
• Raymond James reported better-than-expected quarterly earnings of $2.83 per share, though revenue came in slightly below estimates at $3.86 billion. Revenue still rose 13.4% year over year, and analysts expect full-year EPS of 11.82.
• The company declared a quarterly dividend of $0.54 per share, equal to an annualized yield of about 1.3%. Meanwhile, Wall Street’s view remains mixed, with a consensus rating of Hold and a target price of $172.92.

Hsbc Holdings PLC lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,134,580 shares of the financial services provider's stock after selling 165,872 shares during the period. Hsbc Holdings PLC owned about 0.58% of Raymond James Financial worth $182,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock valued at $573,000 after purchasing an additional 314 shares during the last quarter. Woodline Partners LP grew its position in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock valued at $2,164,000 after purchasing an additional 4,592 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 685 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Raymond James Financial by 15.1% during the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock worth $348,000 after purchasing an additional 298 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Raymond James Financial in the 2nd quarter valued at $363,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $162.57 on Friday. The stock has a market cap of $31.68 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.25 and a beta of 0.93. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company's fifty day moving average is $153.14 and its 200 day moving average is $156.13. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. Sell-side analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's dividend payout ratio is currently 20.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on RJF. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. UBS Group reiterated a "neutral" rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays reiterated an "overweight" rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley increased their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $172.92.

About Raymond James Financial

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.

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