Fideuram Intesa Sanpaolo Private Banking S.P.A. Sells 18,955 Shares of Raymond James Financial, Inc. $RJF

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,839 shares of the financial services provider’s stock after selling 18,955 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Raymond James Financial were worth $7,361,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Raymond James Financial during the fourth quarter worth approximately $324,263,000. First Trust Advisors LP raised its stake in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Raymond James Financial in the 3rd quarter worth approximately $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Raymond James Financial in the fourth quarter worth $64,640,000. Finally, AQR Capital Management LLC increased its position in shares of Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after buying an additional 313,587 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

RJF opened at $162.57 on Friday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The firm has a market cap of $31.68 billion, a P/E ratio of 15.37, a PEG ratio of 1.21 and a beta of 0.93. The company has a 50 day simple moving average of $152.97 and a two-hundred day simple moving average of $156.08.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion for 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%.The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. Equities analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is currently 20.42%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RJF. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley boosted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Jefferies Financial Group decreased their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. UBS Group reissued a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, BMO Capital Markets upped their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.92.

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.