Montag & Caldwell LLC lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 59.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,651 shares of the financial services provider’s stock after selling 6,810 shares during the period. Montag & Caldwell LLC’s holdings in Raymond James Financial were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RJF. Patriot Wealth Management Inc. increased its position in shares of Raymond James Financial by 3.5% in the first quarter. Patriot Wealth Management Inc. now owns 76,465 shares of the financial services provider’s stock worth $5,831,000 after buying an additional 2,551 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Raymond James Financial during the first quarter worth $323,000. Sanders Morris Harris Inc. acquired a new position in shares of Raymond James Financial during the first quarter worth $305,000. Hartford Investment Management Co. acquired a new position in shares of Raymond James Financial during the first quarter worth $2,216,000. Finally, Boston Advisors LLC increased its position in shares of Raymond James Financial by 19.5% in the first quarter. Boston Advisors LLC now owns 76,216 shares of the financial services provider’s stock worth $5,812,000 after buying an additional 12,428 shares in the last quarter. 70.87% of the stock is owned by institutional investors and hedge funds.

Shares of Raymond James Financial, Inc. (NYSE:RJF) opened at 79.35 on Friday. The stock has a market cap of $11.40 billion, a PE ratio of 18.88 and a beta of 1.65. The stock’s 50 day moving average is $81.89 and its 200-day moving average is $77.55. Raymond James Financial, Inc. has a 12-month low of $55.79 and a 12-month high of $85.97.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. Raymond James Financial’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. Equities analysts expect that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.

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A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Instinet reiterated a “buy” rating and set a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura increased their price target on shares of Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Buckingham Research reiterated a “buy” rating and set a $94.00 price target (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently 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 the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the completion of the transaction, the executive vice president now owns 3,000 shares in the company, valued at approximately $219,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,880 shares of company stock valued at $3,213,734. 11.18% of the stock is currently owned by company insiders.

Raymond James Financial Company Profile

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.

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

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