Intech Investment Management LLC Has $2.38 Million Stake in Raymond James Financial, Inc. $RJF

Key Points

• Intech Investment Management LLC reduced its stake in Raymond James Financial by 16.1%, holding 17,160 shares valued at approximately $2.38 million.
• Analysts have raised their price targets for Raymond James Financial, with expectations ranging from $163 to $180, and a consensus rating of "Hold" on the stock.
• Raymond James recently declared a quarterly dividend of $0.50, with an annualized yield of 1.2%, payable on October 15th.

Intech Investment Management LLC trimmed its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,160 shares of the financial services provider's stock after selling 3,299 shares during the period. Intech Investment Management LLC's holdings in Raymond James Financial were worth $2,384,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Focus Partners Wealth grew its holdings in Raymond James Financial by 3.7% during the first quarter. Focus Partners Wealth now owns 26,144 shares of the financial services provider's stock valued at $3,632,000 after purchasing an additional 923 shares during the period. Bayforest Capital Ltd lifted its position in shares of Raymond James Financial by 242.3% in the first quarter. Bayforest Capital Ltd now owns 4,960 shares of the financial services provider's stock worth $689,000 after purchasing an additional 3,511 shares in the last quarter. Woodline Partners LP raised its position in Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock worth $2,164,000 after acquiring an additional 4,592 shares in the last quarter. Empowered Funds LLC raised its position in Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after acquiring an additional 314 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new position in shares of Raymond James Financial in the first quarter valued at about $309,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. JMP Securities increased their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

NYSE RJF opened at $168.47 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The company has a market cap of $33.59 billion, a P/E ratio of 16.52, a PEG ratio of 1.40 and a beta of 1.04. The company has a fifty day simple moving average of $164.77 and a 200 day simple moving average of $151.02. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $174.32.

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

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's payout ratio is 19.61%.

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.

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