MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 20,737 Shares of Raymond James Financial, Inc. $RJF

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Raymond James Financial, Inc. by 5.2% to 379,000 shares, after selling 20,737 shares during the second quarter, making it the firm's 22nd biggest position.
• Analysts have raised target prices for Raymond James Financial, with Morgan Stanley increasing it to $180.00, following mixed quarterly earnings that showed earnings per share of $2.18, below estimates.
• The company declared a quarterly dividend of $0.50 per share, with an annual yield of 1.2% and a payout ratio of 19.61%, set to be paid on October 15th.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 379,000 shares of the financial services provider's stock after selling 20,737 shares during the quarter. Raymond James Financial accounts for about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's investment portfolio, making the stock its 22nd biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.19% of Raymond James Financial worth $58,127,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its stake in Raymond James Financial by 2.2% in the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 73 shares during the period. EP Wealth Advisors LLC increased its stake in Raymond James Financial by 5.5% in the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock valued at $209,000 after acquiring an additional 78 shares during the period. Cigna Investments Inc. New increased its stake in Raymond James Financial by 4.1% in the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider's stock valued at $284,000 after acquiring an additional 81 shares during the period. Farther Finance Advisors LLC increased its stake in Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after acquiring an additional 82 shares during the period. Finally, Dynasty Wealth Management LLC increased its stake in Raymond James Financial by 4.9% in the first quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock valued at $280,000 after acquiring an additional 94 shares during the period. Institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RJF. Morgan Stanley upped their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reissued a "neutral" rating and issued a $180.00 target price (up from $170.00) on shares of Raymond James Financial in a report on Monday. JMP Securities boosted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $165.30.

Raymond James Financial Price Performance

RJF opened at $172.12 on Thursday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. 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 company's 50 day simple moving average is $166.85 and its 200-day simple moving average is $152.27. The stock has a market capitalization of $34.32 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04.

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

Raymond James Financial Dividend Announcement

The business also recently disclosed 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 yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is currently 19.61%.

Raymond James Financial 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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