1,739 Shares in Raymond James Financial, Inc. $RJF Acquired by PharVision Advisers LLC

Key Points

• PharVision Advisers LLC has acquired 1,739 shares of Raymond James Financial, totaling approximately $242,000, showing significant institutional interest in the company.
• Analysts have set new price targets for Raymond James Financial, with JPMorgan and JMP Securities increasing their objectives to $172.00 and $180.00, respectively.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, with the ex-dividend date on October 1st, reflecting a 1.2% annual yield.

PharVision Advisers LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,739 shares of the financial services provider's stock, valued at approximately $242,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Formidable Asset Management LLC raised its stake in Raymond James Financial by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock worth $1,227,000 after buying an additional 67 shares during the period. Venturi Wealth Management LLC raised its stake in Raymond James Financial by 2.2% during the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after buying an additional 73 shares during the period. EP Wealth Advisors LLC raised its stake in Raymond James Financial by 5.5% during the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock worth $209,000 after buying an additional 78 shares during the period. Cigna Investments Inc. New raised its stake in Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider's stock worth $284,000 after buying an additional 81 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after purchasing an additional 82 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on RJF shares. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities increased their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company increased their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Stock Performance

RJF stock opened at $165.63 on Friday. The firm has a market cap of $33.02 billion, a PE ratio of 16.24, a P/E/G ratio of 1.36 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $163.48 and a 200-day moving average of $150.37. 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 the consensus estimate of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.39 earnings per share. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

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

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.

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