Raymond James Financial, Inc. $RJF Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Raymond James Financial by 27.5%, holding 390,214 shares worth approximately $53.23 million after acquiring an additional 84,085 shares.
• Raymond James Financial reported $2.18 earnings per share for the last quarter, missing analysts' consensus estimate of $2.36, though it achieved revenues of $3.40 billion, slightly above expectations.
• A quarterly dividend of $0.50 per share will be paid on October 15, with a 1.2% yield, reflecting a dividend payout ratio of 19.61%.

AQR Capital Management LLC raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 390,214 shares of the financial services provider's stock after purchasing an additional 84,085 shares during the quarter. AQR Capital Management LLC owned 0.19% of Raymond James Financial worth $53,229,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial during the 1st quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC grew 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 shares of Raymond James Financial in the 1st quarter valued at about $33,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

RJF has been the subject of several analyst reports. JMP Securities boosted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley boosted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. 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 an average target price of $163.80.

Raymond James Financial Price Performance

NYSE RJF traded down $1.53 during trading hours on Friday, reaching $169.55. The company's stock had a trading volume of 216,703 shares, compared to its average volume of 1,269,369. The firm has a market capitalization of $33.80 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.37 and a beta of 1.04. Raymond James Financial, Inc. has a 1-year low of $116.89 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The company's 50-day moving average is $164.34 and its two-hundred day moving average is $150.79.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share 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 analyst estimates 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 previous year, the company posted $2.39 EPS. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend 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%.

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.