SPC Financial Inc. Sells 394 Shares of Raymond James Financial, Inc. $RJF

SPC Financial Inc. lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,556 shares of the financial services provider’s stock after selling 394 shares during the period. SPC Financial Inc.’s holdings in Raymond James Financial were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Investment Advisors LLC grew its position in shares of Raymond James Financial by 0.9% in 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 acquiring an additional 68 shares during the period. Venturi Wealth Management LLC raised its stake in Raymond James Financial by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 73 shares in the last quarter. EP Wealth Advisors LLC raised its stake in 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 purchasing an additional 78 shares in the last quarter. Tectonic Advisors LLC raised its stake in Raymond James Financial by 2.6% in the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 80 shares in the last quarter. Finally, Cigna Investments Inc. New raised its stake in Raymond James Financial by 4.1% in the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets started coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $180.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, JMP Securities boosted their target price on shares of Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $160.36 on Friday. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month 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. The firm has a market capitalization of $31.97 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The firm has a fifty day simple moving average of $167.78 and a two-hundred day simple moving average of $154.47.

Raymond James Financial (NYSE:RJF) last posted its earnings results 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). 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 the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $2.39 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is presently 19.61%.

Raymond James Financial Company 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.