Pictet Asset Management Ltd. cut its position in Raymond James Financial, Inc. (NYSE:RJF) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,300 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Raymond James Financial were worth $5,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Aperio Group LLC raised its holdings in Raymond James Financial by 2.7% in the third quarter. Aperio Group LLC now owns 56,926 shares of the financial services provider’s stock worth $4,801,000 after purchasing an additional 1,521 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Raymond James Financial by 6.8% during the third quarter. Cardinal Capital Management now owns 20,349 shares of the financial services provider’s stock worth $1,716,000 after acquiring an additional 1,294 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Raymond James Financial by 49.7% during the third quarter. First Trust Advisors LP now owns 314,189 shares of the financial services provider’s stock worth $26,496,000 after acquiring an additional 104,332 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Raymond James Financial by 3.9% during the third quarter. Raymond James Trust N.A. now owns 98,083 shares of the financial services provider’s stock worth $8,271,000 after acquiring an additional 3,720 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Raymond James Financial by 3.2% during the third quarter. Xact Kapitalforvaltning AB now owns 25,675 shares of the financial services provider’s stock worth $2,165,000 after acquiring an additional 795 shares during the last quarter. Institutional investors and hedge funds own 69.59% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Pictet Asset Management Ltd. Sells 1,600 Shares of Raymond James Financial, Inc. (RJF)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.thecerbatgem.com/2017/11/11/pictet-asset-management-ltd-sells-1600-shares-of-raymond-james-financial-inc-rjf.html.

Shares of Raymond James Financial, Inc. (NYSE RJF) opened at $83.55 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.17 and a quick ratio of 1.14. Raymond James Financial, Inc. has a 52-week low of $66.28 and a 52-week high of $87.22. The company has a market capitalization of $12,055.53, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 0.84 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.15. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. sell-side analysts forecast that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, September 29th. Raymond James Financial’s payout ratio is 20.32%.

A number of brokerages have recently weighed in on RJF. BidaskClub lowered Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research note on Tuesday, August 29th. Buckingham Research boosted their price target on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research lowered Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Raymond James Financial currently has a consensus rating of “Buy” and an average price target of $89.67.

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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF).

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

Receive News & Stock Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related stocks with our FREE daily email newsletter.