King Luther Capital Management Corp lessened its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 9.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,573 shares of the financial services provider’s stock after selling 1,688 shares during the quarter. King Luther Capital Management Corp’s holdings in Raymond James Financial were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Burt Wealth Advisors acquired a new position in Raymond James Financial during the 2nd quarter worth $150,000. Global X Management Co. LLC boosted its position in Raymond James Financial by 42.5% during the 1st quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 690 shares during the period. Triangle Securities Wealth Management acquired a new position in Raymond James Financial during the 2nd quarter worth $206,000. Pacer Advisors Inc. boosted its position in Raymond James Financial by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 206 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Raymond James Financial during the 2nd quarter worth $225,000. Institutional investors own 70.02% of the company’s stock.

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In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now directly owns 128,980 shares in the company, valued at approximately $10,727,266.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following the completion of the transaction, the insider now owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by company insiders.

Shares of Raymond James Financial, Inc. (NYSE RJF) opened at 80.92 on Tuesday. The stock has a 50 day moving average price of $79.36 and a 200 day moving average price of $77.69. Raymond James Financial, Inc. has a one year low of $56.06 and a one year high of $85.97. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 19.24 and a beta of 1.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, equities research analysts forecast that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.22 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.09%. Raymond James Financial’s payout ratio is 20.90%.

A number of research analysts have issued reports on the company. BidaskClub lowered Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Nomura boosted their price target on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Instinet reiterated a “buy” rating and set a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Wells Fargo & Company reiterated a “market perform” rating and set a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $89.33.

Raymond James Financial Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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