Deroy & Devereaux Private Investment Counsel Inc. Has $43.69 Million Stake in Raymond James Financial, Inc. $RJF

Deroy & Devereaux Private Investment Counsel Inc. lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 1.2% in the second quarter, Holdings Channel reports. The institutional investor owned 284,869 shares of the financial services provider’s stock after selling 3,453 shares during the period. Raymond James Financial accounts for approximately 2.4% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 5th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Raymond James Financial were worth $43,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Raymond James Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock worth $3,089,942,000 after purchasing an additional 347,916 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Raymond James Financial by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock worth $574,590,000 after purchasing an additional 29,086 shares during the last quarter. Invesco Ltd. raised its holdings in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock worth $324,390,000 after purchasing an additional 178,262 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Raymond James Financial by 6.7% during the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock worth $312,259,000 after purchasing an additional 140,704 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Wells Fargo & Company raised their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Morgan Stanley lifted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods lifted 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. Finally, BMO Capital Markets initiated coverage on shares of Raymond James Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

NYSE:RJF opened at $162.58 on Wednesday. The firm has a market capitalization of $32.42 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.22 and a beta of 1.03. The company has a fifty day moving average of $167.57 and a 200-day moving average of $154.75. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results 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). The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 EPS. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s payout ratio is 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.