Raymond James Financial, Inc. $RJF Shares Acquired by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC significantly increased its stake in Raymond James Financial, purchasing an additional 7,017 shares for a total of 10,949 shares, valued at approximately $1.52 million.
• Several hedge funds, including Vanguard Group and T. Rowe Price, have also increased their positions in Raymond James Financial, collectively owning over 83.83% of the company's stock.
• Raymond James Financial reported earnings of $2.18 per share, missing expectations, but showed a year-over-year revenue increase of 5.3%.

Ashton Thomas Private Wealth LLC lifted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 178.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,949 shares of the financial services provider's stock after purchasing an additional 7,017 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Raymond James Financial were worth $1,521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC raised its position in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial in the 1st quarter worth $33,000. Finally, TCTC Holdings LLC raised its position 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 worth $40,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on RJF shares. Keefe, Bruyette & Woods boosted their target price on 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 boosted their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities boosted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock 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 issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $0.86 during trading hours on Friday, hitting $170.22. 1,188,301 shares of the stock traded hands, compared to its average volume of 826,323. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.40 and a beta of 1.04. The firm's 50 day moving average price is $164.55 and its 200-day moving average price is $150.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a 1 year low of $116.89 and a 1 year high of $174.32.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.39 EPS. As a group, equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

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 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.