UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Holdings in Raymond James Financial, Inc. $RJF

Key Points

• UBS AM reduced its holdings in Raymond James Financial by 0.4% in the first quarter, retaining 1,513,054 shares worth approximately $210.18 million.
• Multiple institutional investors made significant changes, including Victory Capital Management increasing its stake by 1,502.0%, now owning 1,883,139 shares valued at $261.59 million.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, with an annualized yield of 1.2%, to be paid on October 15th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,513,054 shares of the financial services provider's stock after selling 6,642 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.75% of Raymond James Financial worth $210,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Victory Capital Management Inc. lifted its holdings in Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after purchasing an additional 1,765,588 shares in the last quarter. Nuveen LLC purchased a new position in Raymond James Financial in the 1st quarter valued at about $111,368,000. GAMMA Investing LLC lifted its holdings in Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after purchasing an additional 672,164 shares in the last quarter. Select Equity Group L.P. purchased a new position in Raymond James Financial in the 4th quarter valued at about $81,611,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock valued at $237,305,000 after purchasing an additional 525,134 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. JMP Securities upped their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company 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 assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial presently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Up 2.6%

RJF opened at $171.02 on Friday. The firm has a 50 day moving average price of $164.34 and a 200 day moving average price of $150.79. The company has a market cap 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 1 year low of $115.91 and a 1 year high of $174.32. 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 posted 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). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.39 EPS. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

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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