HighTower Advisors LLC cut its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,410 shares of the financial services provider’s stock after selling 450 shares during the period. HighTower Advisors LLC’s holdings in Raymond James Financial were worth $1,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Raymond James Financial by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock worth $1,034,139,000 after buying an additional 319,457 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Raymond James Financial by 3,818.6% in the 1st quarter. BlackRock Inc. now owns 8,358,285 shares of the financial services provider’s stock worth $637,402,000 after buying an additional 8,144,989 shares in the last quarter. State Street Corp raised its holdings in shares of Raymond James Financial by 44.2% in the 1st quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock worth $452,297,000 after buying an additional 1,819,172 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Raymond James Financial by 25.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock worth $256,605,000 after buying an additional 642,474 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Raymond James Financial by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 1,471,014 shares of the financial services provider’s stock worth $112,180,000 after buying an additional 209,069 shares in the last quarter. 70.02% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on RJF. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, August 29th. Zacks Investment Research cut Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. Finally, Instinet reissued a “buy” rating and issued a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Raymond James Financial has a consensus rating of “Buy” and a consensus target price of $89.33.

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

Shares of Raymond James Financial, Inc. (NYSE RJF) opened at 86.48 on Wednesday. Raymond James Financial, Inc. has a 52-week low of $56.61 and a 52-week high of $87.22. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 20.57 and a beta of 1.67. The company’s 50-day moving average price is $80.89 and its 200-day moving average price is $78.48.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial, Inc. will post $5.08 EPS for the current fiscal 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.88 annualized dividend and a yield of 1.02%. Raymond James Financial’s dividend payout ratio is currently 20.90%.

About Raymond James Financial

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.

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

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