ING Groep NV reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 15.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,550 shares of the financial services provider’s stock after selling 984 shares during the period. ING Groep NV’s holdings in Raymond James Financial were worth $445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Independent Portfolio Consultants Inc. raised its stake in Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock valued at $138,000 after buying an additional 40 shares during the period. YorkBridge Wealth Partners LLC raised its stake in Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after buying an additional 52 shares during the period. Louisiana State Employees Retirement System raised its stake in Raymond James Financial by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the financial services provider’s stock valued at $642,000 after buying an additional 100 shares during the period. SPC Financial Inc. raised its stake in Raymond James Financial by 1.3% in the second quarter. SPC Financial Inc. now owns 8,100 shares of the financial services provider’s stock valued at $650,000 after buying an additional 100 shares during the period. Finally, ProShare Advisors LLC raised its stake in Raymond James Financial by 0.6% in the first quarter. ProShare Advisors LLC now owns 29,433 shares of the financial services provider’s stock valued at $2,245,000 after buying an additional 173 shares during the period. 70.87% of the stock is currently owned by institutional investors.

Shares of Raymond James Financial, Inc. (NYSE RJF) traded up 0.04% during mid-day trading on Monday, hitting $82.93. The stock had a trading volume of 110,446 shares. Raymond James Financial, Inc. has a 12-month low of $54.71 and a 12-month high of $85.97. The company has a 50 day moving average price of $81.09 and a 200 day moving average price of $77.11. The firm has a market cap of $11.92 billion, a P/E ratio of 19.73 and a beta of 1.65.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.57% and a net margin of 9.78%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. Equities analysts forecast that Raymond James Financial, Inc. will post $5.10 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, June 29th. Raymond James Financial’s payout ratio is 20.90%.

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Several analysts have weighed in on the company. BidaskClub lowered Raymond James Financial from a “buy” rating to a “hold” rating in a report on Sunday. Instinet lowered their target price on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a report on Wednesday, May 24th. Buckingham Research reissued a “buy” rating and issued a $94.00 target price (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $87.50.

In related news, EVP Jonathan N. Santelli sold 1,880 shares of Raymond James Financial stock in a transaction on Friday, May 26th. The stock was sold at an average price of $73.30, for a total value of $137,804.00. Following the transaction, the executive vice president now directly owns 3,000 shares in the company, valued at approximately $219,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the completion of the transaction, the insider now owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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