Argus Investors Counsel Inc. Has $434,000 Holdings in Raymond James Financial, Inc. $RJF

Argus Investors Counsel Inc. lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,830 shares of the financial services provider’s stock after selling 189 shares during the period. Argus Investors Counsel Inc.’s holdings in Raymond James Financial were worth $434,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Patton Fund Management Inc. bought a new position in shares of Raymond James Financial during the 2nd quarter worth approximately $246,000. Cadent Capital Advisors LLC increased its holdings in shares of Raymond James Financial by 187.2% in the 2nd quarter. Cadent Capital Advisors LLC now owns 6,246 shares of the financial services provider’s stock worth $958,000 after buying an additional 4,071 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in Raymond James Financial in the 2nd quarter valued at about $222,000. TD Private Client Wealth LLC increased its stake in Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 108 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Raymond James Financial by 12.9% during the second quarter. Ballentine Partners LLC now owns 2,718 shares of the financial services provider’s stock worth $417,000 after buying an additional 310 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RJF. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. JMP Securities raised their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Monday, July 14th. Morgan Stanley lifted their price target on Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Citigroup restated a “neutral” rating and issued a $180.00 target price (up previously from $170.00) on shares of Raymond James Financial in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $165.30.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $175.77 on Friday. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $167.40 and its two-hundred day simple moving average is $152.83. The firm has a market capitalization of $35.05 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.44 and a beta of 1.04.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company posted $2.39 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Raymond James Financial’s payout ratio is 19.61%.

Raymond James Financial 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.