Raymond James Financial, Inc. $RJF Stock Position Cut by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. has cut its stake in Raymond James Financial by 56.6% in the second quarter, now holding 117,498 shares worth $18,021,000.
• Raymond James Financial recently reported an earnings per share (EPS) of $2.18, which is below the analyst consensus estimate of $2.36.
• The firm declared a quarterly dividend of $0.50 per share, set to be paid on October 15th, representing an annualized dividend yield of 1.2%.

Robeco Institutional Asset Management B.V. decreased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 56.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,498 shares of the financial services provider's stock after selling 153,493 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.06% of Raymond James Financial worth $18,021,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the first quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC raised its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after buying an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial in the first quarter valued at $33,000. Finally, TCTC Holdings LLC boosted its stake in Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on RJF. JMP Securities boosted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective 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. Citigroup reissued a "neutral" rating and set a $180.00 target price (up from $170.00) on shares of Raymond James Financial in a research note on Monday, September 22nd. Morgan Stanley raised their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Raymond James Financial in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $171.10.

Raymond James Financial Stock Up 0.1%

RJF stock opened at $166.64 on Friday. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company's 50 day simple moving average is $168.04 and its 200-day simple moving average is $153.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market capitalization of $33.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.28 and a beta of 1.03.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted 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 firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $2.39 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's payout ratio is currently 19.61%.

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.

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