Concurrent Investment Advisors LLC Acquires 6,868 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Concurrent Investment Advisors LLC increased its holdings in Raymond James Financial by 90.3%, acquiring an additional 6,868 shares and bringing total holdings to 14,473 shares valued at $2.22 million.
• Analysts have varied opinions on RJF, with upgrades from Wells Fargo, JMP Securities, and JPMorgan, while the company's average consensus rating is "Hold" with a target price of $172.20.
• Raymond James Financial reported earnings of $2.18 per share for the last quarter, missing estimates, but achieved 5.3% year-over-year revenue growth to $3.40 billion.

Concurrent Investment Advisors LLC lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 90.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,473 shares of the financial services provider's stock after purchasing an additional 6,868 shares during the period. Concurrent Investment Advisors LLC's holdings in Raymond James Financial were worth $2,220,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RJF. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial in the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 123 shares during the period. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial in the 1st quarter worth approximately $33,000. TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 72.9% in the first 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. Finally, Larson Financial Group LLC raised its stake in shares of Raymond James Financial by 364.3% in the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock valued at $45,000 after buying an additional 255 shares during the period. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the topic of several research reports. Wells Fargo & Company boosted their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. JMP Securities boosted their price target on shares of Raymond James Financial from $180.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Finally, BMO Capital Markets assumed coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a "market perform" rating and a $180.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has an average rating of "Hold" and a consensus price target of $172.20.

Raymond James Financial Trading Up 1.7%

Shares of RJF opened at $162.58 on Wednesday. The business's 50-day moving average price is $167.57 and its 200-day moving average price is $154.75. 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 stock has a market cap of $32.42 billion, a PE ratio of 15.94, a P/E/G ratio of 1.22 and a beta of 1.03. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted 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 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% on a year-over-year basis. During the same period last year, the company posted $2.39 EPS. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 annualized dividend and a dividend 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.

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