Confluence Wealth Services Inc. Lowers Holdings in Raymond James Financial, Inc. $RJF

Confluence Wealth Services Inc. reduced its stake in Raymond James Financial, Inc. (NYSE:RJF) by 54.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,023 shares of the financial services provider’s stock after selling 2,435 shares during the period. Confluence Wealth Services Inc.’s holdings in Raymond James Financial were worth $310,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Investment Advisors LLC grew its position in Raymond James Financial by 0.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock valued at $1,170,000 after purchasing an additional 68 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of 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 valued at $461,000 after buying an additional 73 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Raymond James Financial by 5.5% during the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock valued at $209,000 after buying an additional 78 shares during the last quarter. Cigna Investments Inc. New increased its position in shares of Raymond James Financial by 4.1% during the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 81 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Raymond James Financial by 9.0% in 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 last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on RJF. BMO Capital Markets started coverage on Raymond James Financial in a research note on Friday. They set a “market perform” rating and a $180.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Citigroup reiterated a “neutral” rating and issued a $180.00 price objective (up from $170.00) on shares of Raymond James Financial in a report on Monday, September 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Saturday, September 27th. Finally, Morgan Stanley raised their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.10.

Raymond James Financial Stock Up 0.5%

RJF opened at $167.70 on Tuesday. The firm’s 50 day simple moving average is $168.04 and its two-hundred day simple moving average is $154.02. The company has a market capitalization of $33.44 billion, a PE ratio of 16.44, a PEG ratio of 1.28 and a beta of 1.03. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm earned $2.39 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

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