Blair William & Co. IL Acquires New Position in Raymond James Financial, Inc. $RJF

Key Points

• Blair William & Co. IL has acquired a new stake in Raymond James Financial, purchasing 1,773 shares valued at approximately $272,000.
• Analysts recently adjusted their ratings for Raymond James Financial, with JPMorgan raising their target price from $172 to $178 and several others providing positive outlooks.
• Raymond James Financial announced a quarterly dividend of $0.50, representing an annualized yield of 1.2%.

Blair William & Co. IL acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,773 shares of the financial services provider's stock, valued at approximately $272,000.

Several other institutional investors also recently made changes to their positions in RJF. Farther Finance Advisors LLC grew its holdings in shares of Raymond James Financial by 9.0% during the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 82 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Raymond James Financial by 82.6% during the first quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider's stock valued at $675,000 after purchasing an additional 2,197 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Raymond James Financial by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,003 shares of the financial services provider's stock valued at $6,112,000 after purchasing an additional 1,375 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Raymond James Financial by 120.7% during the first quarter. Exchange Traded Concepts LLC now owns 4,213 shares of the financial services provider's stock valued at $585,000 after purchasing an additional 2,304 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Raymond James Financial by 3.5% during the first quarter. State of Alaska Department of Revenue now owns 21,606 shares of the financial services provider's stock valued at $3,001,000 after purchasing an additional 730 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a report on Tuesday, October 7th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Thursday, October 9th. JMP Securities boosted their price objective on Raymond James Financial from $180.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 9th. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $172.20.

Raymond James Financial Stock Performance

RJF opened at $161.50 on Friday. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. 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 $117.57 and a 1-year high of $177.66. The business has a 50 day moving average price of $167.39 and a two-hundred day moving average price of $155.21.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its 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 firm 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% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial's dividend payout ratio 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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.