Raymond James Financial, Inc. $RJF Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its holdings in Raymond James Financial by 1.2%, acquiring an additional 24,818 shares, bringing its total ownership to approximately 2,091,820 shares, valued at nearly $290.6 million.
• Raymond James Financial reported a missed earnings estimate for the quarter, posting earnings of $2.18 per share, which was $0.18 below analysts' expectations.
• The company recently announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.2%, with a payout ratio of 19.61%.

Dimensional Fund Advisors LP raised its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,091,820 shares of the financial services provider's stock after acquiring an additional 24,818 shares during the period. Dimensional Fund Advisors LP owned approximately 1.02% of Raymond James Financial worth $290,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock worth $3,089,942,000 after acquiring an additional 347,916 shares during the period. Invesco Ltd. increased its holdings in shares of Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock valued at $403,038,000 after purchasing an additional 466,129 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Raymond James Financial by 1.0% in the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after purchasing an additional 24,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Raymond James Financial by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock valued at $324,390,000 after purchasing an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Raymond James Financial by 18.4% in the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, JMP Securities raised their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. One equities 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Trading Up 2.3%

Shares of NYSE RJF traded up $3.7750 during midday trading on Friday, reaching $165.8050. 227,598 shares of the stock were exchanged, compared to its average volume of 1,306,921. The stock has a 50 day moving average price of $159.48 and a 200-day moving average price of $150.07. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 52-week low of $113.91 and a 52-week high of $174.32. The company has a market capitalization of $33.06 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.33 and a beta of 1.05.

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

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.50 dividend. 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%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

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.