Aberdeen Group plc Acquires 11,376 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Aberdeen Group plc increased its holdings in Raymond James Financial by 10.4%, acquiring an additional 11,376 shares to own a total of 120,446 shares valued at approximately $18.47 million.
• Several institutional investors significantly enhanced their stakes in Raymond James Financial, including Victory Capital Management, which raised its position by 1,502%, acquiring over 1.76 million shares.
• The company announced a $0.50 quarterly dividend, yielding 1.2%, with the payment date set for October 15th to stockholders of record as of October 1st.

Aberdeen Group plc lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 120,446 shares of the financial services provider's stock after purchasing an additional 11,376 shares during the period. Aberdeen Group plc owned about 0.06% of Raymond James Financial worth $18,473,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in RJF. Victory Capital Management Inc. increased its stake in Raymond James Financial by 1,502.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after purchasing an additional 1,765,588 shares in the last quarter. Nuveen LLC purchased a new position in shares of Raymond James Financial in the first quarter worth $111,368,000. Goldman Sachs Group Inc. increased its position in Raymond James Financial by 44.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock worth $237,305,000 after purchasing an additional 525,134 shares during the last quarter. Invesco Ltd. increased its position in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock worth $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Raymond James Financial by 165.9% during the first quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider's stock valued at $95,381,000 after acquiring an additional 428,396 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on shares of 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. Morgan Stanley raised their price objective on Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Finally, BMO Capital Markets initiated coverage on Raymond James Financial in a research note on Friday, October 3rd. They issued a "market perform" rating and a $180.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $172.20.

Raymond James Financial Stock Up 1.7%

RJF opened at $162.58 on Wednesday. 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 firm has a market cap of $32.42 billion, a P/E ratio of 15.94, a PEG ratio of 1.22 and a beta of 1.03. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The business's fifty day simple moving average is $167.57 and its 200 day simple moving average is $154.75.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly 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). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business posted $2.39 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's payout ratio is currently 19.61%.

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.

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