Raymond James Financial, Inc. $RJF Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV cut its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 14.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 897,019 shares of the financial services provider’s stock after selling 151,732 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Raymond James Financial were worth $154,825,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RJF. Laird Norton Wetherby Wealth Management LLC boosted its position in Raymond James Financial by 4.5% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,848 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 122 shares during the last quarter. Lido Advisors LLC raised its holdings in Raymond James Financial by 180.9% in the 3rd quarter. Lido Advisors LLC now owns 3,885 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 2,502 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of Raymond James Financial by 8.4% during the 3rd quarter. Elevation Point Wealth Partners LLC now owns 10,434 shares of the financial services provider’s stock worth $1,801,000 after purchasing an additional 812 shares during the period. Circle Wealth Management LLC purchased a new position in shares of Raymond James Financial during the 3rd quarter worth $255,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Raymond James Financial by 34.5% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,197 shares of the financial services provider’s stock worth $897,000 after purchasing an additional 1,334 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America upped their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Barclays began coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average price target of $182.17.

Raymond James Financial Trading Down 1.5%

RJF stock opened at $143.83 on Tuesday. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.08 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $161.89 and a 200-day simple moving average of $163.14. 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, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.