Raymond James Financial, Inc. $RJF Shares Sold by Mercer Global Advisors Inc. ADV

Key Points

• Mercer Global Advisors cut its stake in Raymond James by 14.5%, selling 151,732 shares and leaving it with 897,019 shares (about 0.45% of the company) worth roughly $154.8 million.
• Raymond James beat quarterly EPS estimates at $2.86 (vs. $2.83 expected) but missed revenue expectations ($3.74B vs. $3.83B), with revenue up 5.6% year-over-year and a reported ROE of 17.65%.
• Analysts' consensus is an overall "Hold" rating with an average target of $182.17, and the company declared a $0.54 quarterly dividend (annualized $2.16) with a yield of about 1.5% (ex-dividend April 1).

Mercer Global Advisors Inc. ADV lessened its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 897,019 shares of the financial services provider's stock after selling 151,732 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.45% of Raymond James Financial worth $154,825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RJF. West Branch Capital LLC acquired a new position in Raymond James Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at approximately $31,000. Quent Capital LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at approximately $33,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter worth approximately $33,000. Finally, Clearstead Trust LLC boosted its stake in shares of Raymond James Financial by 174.0% during the 3rd quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider's stock worth $49,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America raised their price objective on Raymond James Financial from $194.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, December 10th. Morgan Stanley reiterated a "positive" rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings raised Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a "neutral" rating in a research report on Thursday, December 11th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial currently has an average rating of "Hold" and an average target price of $182.17.

Raymond James Financial Trading Down 1.5%

Shares of RJF opened at $143.83 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The firm has a 50 day simple moving average of $161.89 and a 200-day simple moving average of $163.14.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.Raymond James Financial's revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial's dividend payout ratio is currently 21.14%.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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