GC Wealth Management RIA LLC Invests $281,000 in Raymond James Financial, Inc. $RJF

Key Points

• GC Wealth Management RIA LLC invested approximately $281,000 in Raymond James Financial, acquiring 1,829 shares in the second quarter.
• Several hedge funds significantly increased their positions in Raymond James Financial, with over 83% of the stock owned by institutional investors.
• Analysts have raised price targets for Raymond James Financial, with the current consensus rating being "Hold" and an average target price of $165.70.

GC Wealth Management RIA LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,829 shares of the financial services provider's stock, valued at approximately $281,000.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock worth $261,587,000 after purchasing an additional 1,765,588 shares during the last quarter. Nuveen LLC bought a new stake in Raymond James Financial in the first quarter worth $111,368,000. Goldman Sachs Group Inc. lifted its stake in Raymond James Financial by 44.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock worth $237,305,000 after purchasing an additional 525,134 shares during the last quarter. Invesco Ltd. lifted its stake in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock worth $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Raymond James Financial by 165.9% in the first quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider's stock worth $95,381,000 after purchasing an additional 428,396 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on RJF shares. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities boosted their price target 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. Morgan Stanley boosted their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup reissued a "neutral" rating and issued a $180.00 price target (up from $170.00) on shares of Raymond James Financial in a research note on Monday, September 22nd. Finally, Wells Fargo & Company boosted their price target on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $165.70.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $166.04 on Thursday. The company has a market cap of $33.11 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03. The company has a 50-day moving average price of $168.07 and a 200-day moving average price of $153.39. 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 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data 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). 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 net margin of 13.56% and a return on equity of 18.38%. 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 earnings per share. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

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

Raymond James Financial Company 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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