Logan Capital Management Inc. Lowers Stock Position in Raymond James Financial, Inc. $RJF

Logan Capital Management Inc. lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,533 shares of the financial services provider’s stock after selling 2,387 shares during the period. Logan Capital Management Inc.’s holdings in Raymond James Financial were worth $4,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of Raymond James Financial by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 23,942 shares of the financial services provider’s stock worth $3,719,000 after purchasing an additional 206 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Raymond James Financial in the 4th quarter worth about $222,000. Ensign Peak Advisors Inc raised its position in shares of Raymond James Financial by 13.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 75,137 shares of the financial services provider’s stock worth $11,671,000 after purchasing an additional 9,034 shares during the last quarter. Focus Partners Wealth raised its position in shares of Raymond James Financial by 1,072.5% in the 4th quarter. Focus Partners Wealth now owns 25,221 shares of the financial services provider’s stock worth $3,918,000 after purchasing an additional 23,070 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Raymond James Financial by 8.1% in the 4th quarter. Gotham Asset Management LLC now owns 19,100 shares of the financial services provider’s stock worth $2,967,000 after purchasing an additional 1,425 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. JMP Securities lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $163.80.

Raymond James Financial Price Performance

NYSE RJF opened at $165.62 on Wednesday. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The stock has a 50-day moving average of $163.95 and a 200 day moving average of $150.55. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.36 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 released its quarterly earnings results 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 firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $2.39 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. 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 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.