Assetmark Inc. Decreases Stock Position in Raymond James (NYSE:RJF)

Assetmark Inc. trimmed its position in Raymond James (NYSE:RJF - Free Report) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315 shares of the financial services provider's stock after selling 14,636 shares during the period. Assetmark Inc.'s holdings in Raymond James were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RJF. Bessemer Group Inc. raised its position in shares of Raymond James by 1,138.5% during the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider's stock valued at $2,445,000 after buying an additional 17,499 shares in the last quarter. Atria Investments Inc lifted its stake in Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider's stock worth $4,018,000 after purchasing an additional 8,507 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Raymond James by 390.7% in the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider's stock worth $1,032,000 after purchasing an additional 6,649 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Raymond James by 105.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider's stock valued at $3,834,000 after buying an additional 15,940 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Raymond James by 529.4% in the 1st quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider's stock worth $2,781,000 after buying an additional 18,215 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.5 %

NYSE:RJF traded down $0.74 during mid-day trading on Tuesday, hitting $162.68. 568,326 shares of the company's stock were exchanged, compared to its average volume of 1,138,377. Raymond James has a one year low of $102.42 and a one year high of $164.33. The business has a fifty day moving average price of $136.16 and a 200 day moving average price of $124.81. The company has a market cap of $33.50 billion, a PE ratio of 16.76, a P/E/G ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. Equities analysts predict that Raymond James will post 10.83 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Tuesday, October 1st. Raymond James's dividend payout ratio is 18.54%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RJF. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Jefferies Financial Group upped their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $140.91.

Raymond James 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.