Mutual of America Capital Management LLC Sells 3,694 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Mutual of America Capital Management LLC reduced its stake in Raymond James Financial, selling 3,694 shares for a total ownership of 25,017 shares, valued at approximately $3.84 million.
• Raymond James Financial reported earnings of $3.11 per share, exceeding analyst expectations of $2.83, along with a revenue of $3.73 billion for the quarter.
• Analysts have raised their price targets for Raymond James Financial, with estimates ranging from $175.00 to $190.00 per share, indicating strong market support for the stock.

Mutual of America Capital Management LLC lessened its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 12.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,017 shares of the financial services provider's stock after selling 3,694 shares during the period. Mutual of America Capital Management LLC's holdings in Raymond James Financial were worth $3,837,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RJF. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial during the first quarter worth $27,000. Golden State Wealth Management LLC grew its holdings in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial during the first quarter worth $33,000. TCTC Holdings LLC grew its holdings in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Raymond James Financial by 364.3% during the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock worth $45,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $164.88 on Friday. The business's 50-day simple moving average is $167.38 and its 200 day simple moving average is $156.10. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.27 and a beta of 1.03. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Analyst Ratings Changes

Several analysts have recently commented on RJF shares. TD Cowen increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "hold" rating in a report on Thursday. JMP Securities increased their target price on Raymond James Financial from $185.00 to $190.00 and gave the stock a "market outperform" rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on Raymond James Financial from $174.00 to $181.00 and gave the company a "market perform" rating in a report on Thursday. Morgan Stanley raised their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on Raymond James Financial from $178.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $177.20.

About Raymond James Financial

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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