Raymond James Financial, Inc. $RJF Shares Bought by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC increased its stake in Raymond James Financial, acquiring an additional 4,299 shares for a total of 43,423 shares, valued at approximately $6,032,000.
• Several analysts have raised their price targets for Raymond James Financial, with JPMorgan Chase & Co. lifting its target from $151 to $172.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, payable on October 15th, representing an annualized yield of 1.2%.

Ancora Advisors LLC raised its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,423 shares of the financial services provider's stock after purchasing an additional 4,299 shares during the period. Ancora Advisors LLC's holdings in Raymond James Financial were worth $6,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RJF. Victory Capital Management Inc. grew its holdings in Raymond James Financial by 1,502.0% in the first 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 during the last quarter. Nuveen LLC acquired a new stake in Raymond James Financial in the first quarter valued at $111,368,000. GAMMA Investing LLC grew its holdings in Raymond James Financial by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after purchasing an additional 672,164 shares during the last quarter. Select Equity Group L.P. acquired a new stake in Raymond James Financial in the fourth quarter valued at $81,611,000. Finally, Invesco Ltd. grew its holdings 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 valued at $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of several research reports. Wells Fargo & Company upped their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Morgan Stanley boosted their price target on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. One research 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's stock. According to data from MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Trading Down 3.2%

Shares of RJF stock traded down $5.46 during mid-day trading on Friday, hitting $165.63. 1,293,452 shares of the company's stock were exchanged, compared to its average volume of 839,264. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The stock has a 50-day simple moving average of $163.48 and a two-hundred day simple moving average of $150.37. 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 stock has a market cap of $33.02 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.36 and a beta of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business earned $2.39 EPS. Raymond James Financial's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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