Dean Capital Management Sells 3,374 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Dean Capital Management reduced its holdings in Raymond James Financial, Inc. by 23.0%, resulting in ownership of 11,303 shares, valued at approximately $1.57 million.
• Raymond James Financial recently reported a net margin of 13.56% and earnings per share (EPS) of $2.18, which was below analyst expectations of $2.36.
• The company declared a quarterly dividend of $0.50 per share, reflecting an annualized yield of 1.2%, with the payment date set for October 15th.

Dean Capital Management lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,303 shares of the financial services provider's stock after selling 3,374 shares during the quarter. Dean Capital Management's holdings in Raymond James Financial were worth $1,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of RJF. D.A. Davidson & CO. lifted its holdings in Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after acquiring an additional 197 shares during the period. Golden State Wealth Management LLC lifted its holdings in 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 acquiring an additional 123 shares during the period. Jefferies Financial Group Inc. bought a new stake in Raymond James Financial during the fourth quarter worth $9,366,000. Assenagon Asset Management S.A. lifted its holdings in Raymond James Financial by 13.8% during the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after acquiring an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after acquiring an additional 3,691 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $0.86 during mid-day trading on Friday, reaching $170.22. The company's stock had a trading volume of 1,188,301 shares, compared to its average volume of 826,323. Raymond James Financial, Inc. has a 12-month low of $116.89 and a 12-month high of $174.32. The company has a market capitalization of $33.94 billion, a P/E ratio of 16.69, a PEG ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The firm's fifty day moving average price is $164.55 and its two-hundred day moving average price is $150.93.

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

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RJF shares. Keefe, Bruyette & Woods raised their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised 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 note on Friday, July 11th. Morgan Stanley raised their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of 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 research 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $163.80.

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.