Focus Partners Advisor Solutions LLC Invests $221,000 in Raymond James Financial, Inc. $RJF

Key Points

• Focus Partners Advisor Solutions LLC has invested $221,000 in Raymond James Financial, acquiring 1,589 shares during the first quarter of the year.
• Raymond James Financial recently reported an EPS of $2.18 for the last quarter, which was below the consensus estimate of $2.36.
• The company will pay a quarterly dividend of $0.50 on October 15, 2023, indicating a yearly dividend yield of 1.2%.

Focus Partners Advisor Solutions LLC acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,589 shares of the financial services provider's stock, valued at approximately $221,000.

Other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 1st quarter worth approximately $25,000. 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 grew its position 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 buying an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial in the 1st quarter worth approximately $33,000. Finally, TCTC Holdings LLC grew its position in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after buying an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Trading Down 3.2%

Raymond James Financial stock opened at $165.63 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The business's fifty day simple moving average is $163.48 and its two-hundred day simple moving average is $150.34. Raymond James Financial, Inc. has a 12 month low of $113.91 and a 12 month high of $174.32. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 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 the consensus estimate of $3.38 billion. During the same period last year, the firm posted $2.39 earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. One 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.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $163.80.

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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