Callan Family Office LLC Makes New $401,000 Investment in Raymond James Financial, Inc. $RJF

Key Points

• Callan Family Office LLC has made a new investment of $401,000 in Raymond James Financial, acquiring 2,614 shares.
• Raymond James Financial reported an earnings per share (EPS) of $2.18, which fell short of expectations by $0.18, despite revenues exceeding estimates.
• The company's latest quarterly dividend was $0.50 per share, equating to an annualized yield of 1.2% and a payout ratio of 19.61%.

Callan Family Office LLC purchased a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,614 shares of the financial services provider's stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blair William & Co. IL purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $272,000. Tectonic Advisors LLC grew its stake in Raymond James Financial by 2.6% in the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider's stock worth $491,000 after buying an additional 80 shares in the last quarter. Sax Wealth Advisors LLC purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $206,000. KLP Kapitalforvaltning AS grew its stake in Raymond James Financial by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 69,978 shares of the financial services provider's stock worth $10,733,000 after buying an additional 1,200 shares in the last quarter. Finally, New England Professional Planning Group Inc. grew its stake in Raymond James Financial by 0.4% in the 2nd quarter. New England Professional Planning Group Inc. now owns 44,910 shares of the financial services provider's stock worth $6,888,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Trading Up 0.7%

NYSE:RJF opened at $163.63 on Thursday. The company has a fifty day moving average of $167.51 and a 200 day moving average of $154.82. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. 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 firm has a market capitalization of $32.62 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.24 and a beta of 1.03.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results 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 net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $0.50 per share. 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 currently 19.61%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RJF shares. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. JMP Securities boosted their price target on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 9th. BMO Capital Markets started coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They issued a "market perform" rating and a $180.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, Citigroup restated an "outperform" rating on shares of Raymond James Financial in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Raymond James Financial presently has an average rating of "Hold" and an average target price of $172.20.

About Raymond James Financial

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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