Raymond James Financial, Inc. $RJF Holdings Cut by US Bancorp DE

US Bancorp DE lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 6.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 73,121 shares of the financial services provider's stock after selling 5,455 shares during the period. US Bancorp DE's holdings in Raymond James Financial were worth $11,215,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after purchasing an additional 197 shares during the period. Abacus Planning Group Inc. bought a new position in shares of Raymond James Financial in the second quarter valued at approximately $222,000. Swedbank AB boosted its holdings in shares of Raymond James Financial by 173.0% in the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider's stock valued at $4,846,000 after acquiring an additional 20,022 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after acquiring an additional 3,035 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Trading Down 2.3%

Shares of NYSE RJF opened at $160.36 on Friday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The firm has a market capitalization of $31.97 billion, a PE ratio of 15.72, a PEG ratio of 1.23 and a beta of 1.03. 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 business has a 50-day moving average price of $167.78 and a two-hundred day moving average price of $154.47.

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

Raymond James Financial Dividend Announcement

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

Analysts Set New Price Targets

RJF has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Thursday. JMP Securities boosted their price target on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $172.20.

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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