Integrated Advisors Network LLC Sells 9,121 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Integrated Advisors Network LLC reduced its Raymond James Financial stake by 71.2% in the first quarter, selling 9,121 shares and leaving it with 3,697 shares worth about $535,000.
• Raymond James Financial recently reported quarterly earnings of $2.83 per share, beating estimates, while revenue rose 13.4% year over year to $3.86 billion despite coming in slightly below expectations.
• The company declared a quarterly dividend of $0.54 per share, which annualizes to $2.16 and implies a 1.3% yield; analysts currently rate the stock a consensus Hold with an average price target of $175.33.

Integrated Advisors Network LLC cut its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 71.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,697 shares of the financial services provider's stock after selling 9,121 shares during the quarter. Integrated Advisors Network LLC's holdings in Raymond James Financial were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Reflection Asset Management bought a new position in Raymond James Financial in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the fourth quarter worth $32,000. Harbor Investment Advisory LLC lifted its stake in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at $35,000. Finally, Steigerwald Gordon & Koch Inc. boosted its holdings in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. BMO Capital Markets raised their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. TD Cowen decreased their target price on Raymond James Financial from $159.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 28th. Citizens Jmp boosted their target price on Raymond James Financial from $190.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Thursday. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $175.33.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $168.52 on Friday. The company's 50 day moving average price is $154.15 and its two-hundred day moving average price is $156.23. The firm has a market capitalization of $32.84 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.28 and a beta of 0.93. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.76 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

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

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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