Raymond James Financial, Inc. $RJF Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the financial services provider’s stock after selling 194 shares during the period. Cigna Investments Inc. New’s holdings in Raymond James Financial were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in Raymond James Financial by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after buying an additional 73 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Raymond James Financial by 5.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 78 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 82 shares during the period. Dynasty Wealth Management LLC boosted its position in shares of Raymond James Financial by 4.9% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 94 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Raymond James Financial by 3.6% in the first quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 100 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Trading Up 0.1%

Shares of RJF stock opened at $172.11 on Friday. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The company has a 50 day moving average price of $167.10 and a 200 day moving average price of $152.51. The stock has a market capitalization of $34.32 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.41 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.

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

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid 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 is presently 19.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Morgan Stanley upped their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Citigroup reissued a “neutral” rating and set a $180.00 target price (up previously from $170.00) on shares of Raymond James Financial in a research note on Monday. Wells Fargo & Company upped their price target on 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. Finally, JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.30.

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.