First Eagle Investment Management LLC Trims Stock Position in Raymond James Financial, Inc. $RJF

First Eagle Investment Management LLC cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,720 shares of the financial services provider’s stock after selling 518 shares during the quarter. First Eagle Investment Management LLC’s holdings in Raymond James Financial were worth $571,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Princeton Global Asset Management LLC lifted its stake in Raymond James Financial by 69.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after buying an additional 100 shares in the last quarter. TCTC Holdings LLC raised its holdings in shares of Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 121 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Raymond James Financial by 364.3% in the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 255 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Raymond James Financial by 47.2% in the second quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 108 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Raymond James Financial during the first quarter valued at $60,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RJF has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Morgan Stanley boosted their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Finally, Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Trading Up 1.3%

RJF stock opened at $162.92 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.19 and a beta of 1.05. The business has a fifty day simple moving average of $166.11 and a 200-day simple moving average of $158.67. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were 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 was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.44%.

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.