Evolve Private Wealth LLC Sells 13,013 Shares of Raymond James Financial, Inc. $RJF

Evolve Private Wealth LLC cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 89.8% in the first quarter, HoldingsChannel reports. The firm owned 1,474 shares of the financial services provider’s stock after selling 13,013 shares during the period. Evolve Private Wealth LLC’s holdings in Raymond James Financial were worth $213,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the 4th quarter worth approximately $32,000. Harbor Investment Advisory LLC boosted its position in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial during the fourth quarter worth approximately $35,000. Finally, DV Equities LLC acquired a new position in Raymond James Financial during the fourth quarter valued at approximately $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $150.52 on Monday. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a market cap of $29.33 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.15 and a beta of 0.94. The business’s 50 day moving average is $152.72 and its two-hundred day moving average is $156.34. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data 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. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued 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 yield of 1.4%. Raymond James Financial’s dividend payout ratio is 20.42%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Jefferies Financial Group decreased their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. BMO Capital Markets raised their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note 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. Finally, Morgan Stanley boosted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $172.92.

Raymond James Financial 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.