Dynamic Technology Lab Private Ltd Makes New $1.35 Million Investment in Raymond James Financial, Inc. $RJF

Key Points

• Dynamic Technology Lab Private Ltd purchased 9,700 shares in Raymond James Financial, valued at approximately $1,347,000, indicating growing institutional interest in the company.
• Raymond James Financial's recent earnings report showed earnings per share of $2.18, missing the consensus estimate of $2.36, while revenue of $3.40 billion exceeded expectations.
• Brokerage firms have increased their price targets for Raymond James Financial, with notable raises from Wells Fargo and JPMorgan, reflecting analyst confidence in the stock's potential performance.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,700 shares of the financial services provider's stock, valued at approximately $1,347,000.

A number of other institutional investors have also recently bought and sold shares of RJF. Cetera Investment Advisers grew its holdings in Raymond James Financial by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 23,942 shares of the financial services provider's stock valued at $3,719,000 after purchasing an additional 206 shares during the period. EP Wealth Advisors LLC acquired a new position in Raymond James Financial during the fourth quarter valued at approximately $222,000. Deutsche Bank AG grew its holdings in Raymond James Financial by 6.5% during the fourth quarter. Deutsche Bank AG now owns 635,080 shares of the financial services provider's stock valued at $98,647,000 after purchasing an additional 39,017 shares during the period. Ensign Peak Advisors Inc grew its holdings in Raymond James Financial by 13.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 75,137 shares of the financial services provider's stock valued at $11,671,000 after purchasing an additional 9,034 shares during the period. Finally, Focus Partners Wealth grew its holdings in Raymond James Financial by 1,072.5% during the fourth quarter. Focus Partners Wealth now owns 25,221 shares of the financial services provider's stock valued at $3,918,000 after purchasing an additional 23,070 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Down 0.5%

Shares of RJF stock traded down $0.86 during trading on Friday, reaching $170.22. The company's stock had a trading volume of 1,188,301 shares, compared to its average volume of 826,323. The business has a fifty day moving average price of $164.55 and a 200-day moving average price of $150.92. 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 company has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. Raymond James Financial, Inc. has a one year low of $116.89 and a one year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 18.38% and a net margin of 13.56%.The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.39 EPS. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given 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%.

Analyst Ratings Changes

A number of research analysts have weighed in on RJF shares. JMP Securities lifted their price target 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. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Morgan Stanley lifted their price target 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. Keefe, Bruyette & Woods lifted their price target 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, Wells Fargo & Company lifted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial 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.