Geneva Capital Management LLC Cuts Holdings in Raymond James (NYSE:RJF)

Geneva Capital Management LLC cut its stake in Raymond James (NYSE:RJF - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,287 shares of the financial services provider's stock after selling 3,931 shares during the quarter. Geneva Capital Management LLC owned about 0.05% of Raymond James worth $13,261,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. AGF Management Ltd. lifted its stake in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider's stock worth $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider's stock valued at $309,689,000 after acquiring an additional 37,173 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Raymond James by 1.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider's stock valued at $273,919,000 after acquiring an additional 25,494 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider's stock valued at $250,238,000 after acquiring an additional 113,826 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider's stock valued at $216,153,000 after acquiring an additional 38,695 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RJF shares. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, October 4th. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $140.91.

Raymond James Stock Performance

Shares of NYSE:RJF traded down $0.55 during midday trading on Wednesday, hitting $161.72. The company had a trading volume of 238,423 shares, compared to its average volume of 1,140,229. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.82 and a beta of 0.99. Raymond James has a 12-month low of $101.90 and a 12-month high of $163.45. The company has a fifty day moving average of $132.64 and a two-hundred day moving average of $123.73.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business posted $2.13 EPS. Raymond James's revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Dividend Announcement

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

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.