Millennium Management LLC Trims Stake in Raymond James (RJF)

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Millennium Management LLC cut its holdings in Raymond James (NYSE:RJF) by 42.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 652,684 shares of the financial services provider’s stock after selling 487,794 shares during the period. Millennium Management LLC’s holdings in Raymond James were worth $58,317,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Aperio Group LLC boosted its stake in shares of Raymond James by 7.1% during the 1st quarter. Aperio Group LLC now owns 62,567 shares of the financial services provider’s stock worth $5,594,000 after purchasing an additional 4,154 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Raymond James by 9.3% during the 1st quarter. Teacher Retirement System of Texas now owns 92,373 shares of the financial services provider’s stock worth $8,259,000 after purchasing an additional 7,832 shares during the period. Korea Investment CORP boosted its stake in shares of Raymond James by 13.5% during the 1st quarter. Korea Investment CORP now owns 68,255 shares of the financial services provider’s stock worth $6,103,000 after purchasing an additional 8,142 shares during the period. Systematic Financial Management LP boosted its stake in shares of Raymond James by 38.7% during the 1st quarter. Systematic Financial Management LP now owns 4,300 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,200 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Raymond James by 1.9% during the 1st quarter. BlackRock Inc. now owns 8,647,915 shares of the financial services provider’s stock worth $773,210,000 after purchasing an additional 164,613 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.

A number of equities analysts recently commented on RJF shares. ValuEngine cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Zacks Investment Research cut shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. Wells Fargo & Co lifted their price target on shares of Raymond James from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 12th. Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating in a research report on Thursday, May 31st. Finally, Citigroup boosted their price objective on shares of Raymond James from $95.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, June 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.75.

Raymond James stock opened at $92.01 on Wednesday. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.83 and a beta of 1.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.10. Raymond James has a 1 year low of $80.59 and a 1 year high of $102.17.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.17). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Raymond James had a net margin of 10.87% and a return on equity of 15.66%. Raymond James’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. research analysts expect that Raymond James will post 6.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.20 annualized dividend and a yield of 1.30%. Raymond James’s dividend payout ratio (DPR) is 22.94%.

In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $92.66, for a total value of $527,976.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.46% of the stock is owned by insiders.

About Raymond James

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.

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

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