CreativeOne Wealth LLC Takes $208,000 Position in Raymond James Financial, Inc. $RJF

Key Points

• CreativeOne Wealth LLC acquired 1,498 shares of Raymond James Financial, Inc., valued at approximately $208,000, during the first quarter.
• Several institutional investors, including Victory Capital Management Inc. and GAMMA Investing LLC, significantly increased their stakes in Raymond James Financial by over 1,500% and 25,259%, respectively, in the first quarter.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, with an annual yield of 1.2%, payable on October 15th to investors of record.

CreativeOne Wealth LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,498 shares of the financial services provider's stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FORA Capital LLC increased its holdings in shares of Raymond James Financial by 216.7% in the 1st quarter. FORA Capital LLC now owns 42,699 shares of the financial services provider's stock valued at $5,931,000 after acquiring an additional 29,218 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Raymond James Financial by 187.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 211,724 shares of the financial services provider's stock valued at $29,411,000 after acquiring an additional 138,154 shares during the period. Synovus Financial Corp increased its holdings in shares of Raymond James Financial by 99.0% in the 1st quarter. Synovus Financial Corp now owns 3,891 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 1,936 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Raymond James Financial by 28.5% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 48,543 shares of the financial services provider's stock valued at $6,743,000 after acquiring an additional 10,772 shares during the period. Finally, Quantitative Investment Management LLC increased its holdings in shares of Raymond James Financial by 427.1% in the 1st quarter. Quantitative Investment Management LLC now owns 7,696 shares of the financial services provider's stock valued at $1,069,000 after acquiring an additional 6,236 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Trading Down 3.2%

NYSE:RJF traded down $5.46 on Friday, reaching $165.63. The stock had a trading volume of 1,293,452 shares, compared to its average volume of 839,264. The company has a market cap of $33.02 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm's fifty day moving average is $163.48 and its two-hundred day moving average is $150.44. Raymond James Financial, Inc. has a 12-month low of $113.91 and a 12-month high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.39 earnings per share. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is currently 19.61%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RJF shares. JPMorgan Chase & Co. lifted their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. JMP Securities boosted their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial 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.