OneDigital Investment Advisors LLC Lowers Stock Holdings in Raymond James (NYSE:RJF)

OneDigital Investment Advisors LLC cut its stake in shares of Raymond James (NYSE:RJF) by 2.4% during the third quarter, HoldingsChannel.com reports. The fund owned 40,741 shares of the financial services provider’s stock after selling 995 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Raymond James were worth $4,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC lifted its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new stake in shares of Raymond James during the 2nd quarter worth $29,000. Covestor Ltd boosted its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Raymond James in the third quarter valued at about $32,000. Finally, Rothschild Investment LLC bought a new position in Raymond James in the second quarter worth about $62,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 0.3 %

Shares of RJF opened at $160.67 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a market capitalization of $33.09 billion, a PE ratio of 16.55, a P/E/G ratio of 0.81 and a beta of 0.99. The company’s 50-day simple moving average is $135.23 and its 200-day simple moving average is $124.50. Raymond James has a 1 year low of $102.42 and a 1 year high of $163.45.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm posted $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts forecast that Raymond James will post 10.78 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. Raymond James’s payout ratio is currently 18.54%.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $140.91.

Raymond James Company 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.