Janney Montgomery Scott LLC Sells 7,924 Shares of Raymond James Financial, Inc. $RJF

Janney Montgomery Scott LLC trimmed its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,040 shares of the financial services provider’s stock after selling 7,924 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Raymond James Financial were worth $3,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reflection Asset Management bought a new position in Raymond James Financial during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the 4th quarter worth approximately $32,000. Harbor Investment Advisory LLC lifted its stake in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial in the fourth quarter valued at approximately $35,000. Finally, DV Equities LLC acquired a new position in shares of Raymond James Financial in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF traded up $0.99 during mid-day trading on Tuesday, reaching $167.41. The company’s stock had a trading volume of 39,080 shares, compared to its average volume of 1,430,591. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The business has a 50-day simple moving average of $153.39 and a two-hundred day simple moving average of $156.11. The stock has a market cap of $32.62 billion, a P/E ratio of 15.85, a PEG ratio of 1.25 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio is currently 20.42%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RJF. Morgan Stanley increased their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. BMO Capital Markets upped their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. TD Cowen lowered their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, UBS Group reaffirmed a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $172.92.

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.