8,052 Shares in Raymond James Financial, Inc. $RJF Purchased by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has purchased 8,052 shares of Raymond James Financial, Inc., valued at approximately $1,119,000, during the first quarter.
• Raymond James Financial has declared a quarterly dividend of $0.50 per share, to be paid on October 15th, representing an annualized yield of 1.2%.
• The company reported earnings per share of $2.18 for the last quarter, missing analysts' estimates of $2.36, but its revenue of $3.40 billion exceeded expectations of $3.38 billion.

Cinctive Capital Management LP acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,052 shares of the financial services provider's stock, valued at approximately $1,119,000.

A number of other hedge funds have also bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial during the 1st quarter worth $25,000. Alpine Bank Wealth Management bought a new position in Raymond James Financial in the first quarter valued at about $27,000. Golden State Wealth Management LLC raised its stake in Raymond James Financial by 164.0% during the first 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 acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $33,000. Finally, TCTC Holdings LLC grew its position in Raymond James Financial by 72.9% during 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 during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Down 0.1%

RJF stock traded down $0.15 during trading on Tuesday, reaching $165.62. The stock had a trading volume of 485,993 shares, compared to its average volume of 1,278,709. 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 company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.36 and a beta of 1.04. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The company's 50 day moving average is $163.73 and its two-hundred day moving average is $150.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued 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). The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate 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 was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 earnings per share. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is currently 19.61%.

Wall Street Analysts Forecast Growth

RJF has been the topic of several analyst reports. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. JMP Securities lifted their target price on shares of 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. JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the stock 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 research note on Tuesday, July 15th. Finally, Wells Fargo & Company raised 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $163.80.

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.