Raymond James (NYSE:RJF) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC trimmed its stake in shares of Raymond James (NYSE:RJF) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,234 shares of the financial services provider’s stock after selling 739 shares during the quarter. Tranquility Partners LLC’s holdings in Raymond James were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP acquired a new position in Raymond James during the 2nd quarter worth approximately $29,000. Covestor Ltd increased its position in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James during the 3rd quarter worth approximately $32,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Raymond James in the 3rd quarter valued at approximately $34,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Price Performance

Shares of NYSE RJF opened at $163.42 on Tuesday. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.80 and a beta of 0.99. Raymond James has a twelve month low of $102.42 and a twelve month high of $164.33. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $136.16 and a two-hundred day moving average of $124.81.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. As a group, analysts expect that Raymond James will post 10.83 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 18.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RJF shares. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $140.91.

Raymond James Company 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.