Amundi Lowers Position in Raymond James Financial, Inc. $RJF

Key Points

• Amundi reduced its stake in Raymond James Financial by 3.4%, holding 749,414 shares worth approximately $97.6 million after selling 26,234 shares in the first quarter.
• Analysts have adjusted their price targets for Raymond James Financial, with Wells Fargo raising it to $163 and Morgan Stanley setting it at $180.
• Raymond James Financial's recent quarterly earnings report showed a miss in EPS expectations, reporting $2.18 against a consensus of $2.36, although revenue increased by 5.3% year-over-year.

Amundi decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 749,414 shares of the financial services provider's stock after selling 26,234 shares during the quarter. Amundi owned approximately 0.37% of Raymond James Financial worth $97,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RJF. D.A. Davidson & CO. grew its position in shares of Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock valued at $778,000 after buying an additional 197 shares during the last quarter. Golden State Wealth Management LLC lifted its stake 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 worth $28,000 after acquiring an additional 123 shares during the period. Jefferies Financial Group Inc. bought a new stake in Raymond James Financial in the fourth quarter valued at approximately $9,366,000. Assenagon Asset Management S.A. increased its position in Raymond James Financial by 13.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after purchasing an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Raymond James Financial by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after purchasing an additional 3,691 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 2.6%

Raymond James Financial stock traded up $4.32 during mid-day trading on Thursday, reaching $171.02. The stock had a trading volume of 1,472,735 shares, compared to its average volume of 798,005. The firm has a market capitalization of $34.10 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.04. Raymond James Financial, Inc. has a fifty-two week low of $115.91 and a fifty-two week high of $174.32. The stock's 50-day simple moving average is $164.34 and its 200-day simple moving average is $150.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results 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). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped 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 note on Tuesday, July 15th. JMP Securities upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $163.80.

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.