AG2R LA Mondiale Gestion D Actifs Invests $1.18 Million in Raymond James Financial, Inc. $RJF

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $1.18 million in Raymond James Financial, acquiring 8,001 shares during the first quarter.
• Raymond James Financial recently reported an EPS of $2.18 for its quarterly earnings, which was below analysts' expectations of $2.36, despite a revenue increase of 5.3% year-over-year.
• The company declared a quarterly dividend of $0.50 per share, with a yield of 1.2%, set to be paid on October 15th to shareholders of record on October 1st.

AG2R LA Mondiale Gestion D Actifs acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,001 shares of the financial services provider's stock, valued at approximately $1,176,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new position in Raymond James Financial during the 1st quarter valued at $27,000. Golden State Wealth Management LLC raised its stake in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new position in Raymond James Financial during the 1st quarter valued at $33,000. Finally, TCTC Holdings LLC raised its stake in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 0.5%

RJF opened at $170.22 on Friday. The firm's 50-day simple moving average is $164.55 and its 200-day simple moving average is $150.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a twelve month low of $116.89 and a twelve month high of $174.32. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.40 and a beta of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued 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). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company earned $2.39 EPS. The firm's revenue was up 5.3% compared to the same quarter last year. 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 firm also recently announced 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RJF shares. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Wells Fargo & Company upped their target price 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. Keefe, Bruyette & Woods upped their target price 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. JPMorgan Chase & Co. boosted their price target 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. Finally, Morgan Stanley boosted 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 report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.

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