Oppenheimer Asset Management Inc. Decreases Stock Holdings in Raymond James (NYSE:RJF)

Oppenheimer Asset Management Inc. trimmed its position in shares of Raymond James (NYSE:RJF) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,380 shares of the financial services provider’s stock after selling 1,499 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Raymond James were worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. AGF Management Ltd. raised its holdings in shares of Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Raymond James by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after acquiring an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after acquiring an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Raymond James by 6.0% during 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 buying an additional 113,826 shares during the period. Finally, APG Asset Management N.V. raised its holdings in Raymond James by 2.1% during 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 buying an additional 38,695 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Price Performance

RJF opened at $160.67 on Friday. Raymond James has a 12-month low of $102.42 and a 12-month high of $163.45. 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 business’s fifty day simple moving average is $135.23 and its 200-day simple moving average is $124.50. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.81 and a beta of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James will post 10.78 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 18.54%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RJF shares. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company increased their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JMP Securities increased their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, TD Cowen upped 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 issued 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 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.