Hsbc Holdings PLC Decreases Stock Holdings in Raymond James Financial, Inc. $RJF

Hsbc Holdings PLC reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 12.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,580 shares of the financial services provider’s stock after selling 165,872 shares during the period. Hsbc Holdings PLC owned 0.58% of Raymond James Financial worth $182,377,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Reflection Asset Management acquired a new position in Raymond James Financial during the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the 4th quarter worth $32,000. Anfield Capital Management LLC acquired a new stake in shares of Raymond James Financial in the 3rd quarter worth $33,000. Harbor Investment Advisory LLC raised its holdings in shares of Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 172 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial during the 4th quarter valued at about $35,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. TD Cowen cut their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Finally, Jefferies Financial Group reduced their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Trading Up 0.2%

Shares of RJF stock opened at $156.18 on Friday. The company has a 50-day moving average of $152.41 and a two-hundred day moving average of $156.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The firm has a market cap of $30.44 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $2.42 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts predict that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.