Raymond James (NYSE:RJF) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in Raymond James (NYSE:RJF) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,496 shares of the financial services provider’s stock after selling 1,733 shares during the period. Crossmark Global Holdings Inc.’s holdings in Raymond James were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after acquiring an additional 11,427 shares during the period. Bessemer Group Inc. lifted its stake in shares of Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after acquiring an additional 17,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Raymond James by 44.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock worth $2,260,000 after acquiring an additional 5,427 shares during the period. Atria Investments Inc lifted its stake in shares of Raymond James by 37.3% in the 1st quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after acquiring an additional 8,507 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Raymond James by 390.7% in the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 6,649 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Price Performance

Shares of NYSE:RJF opened at $162.27 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 1 year low of $99.06 and a 1 year high of $163.39. The business has a fifty day simple moving average of $132.64 and a 200 day simple moving average of $123.73. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.80 and a beta of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 earnings per share. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.11%. Raymond James’s dividend payout ratio is 18.54%.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities increased their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Bank of America increased their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $140.91.

Raymond James 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.