Golden Road Advisors LLC Acquires New Shares in Raymond James Financial, Inc. $RJF

Key Points

• Golden Road Advisors LLC opened a new position in Raymond James Financial during the first quarter, buying 10,061 shares valued at about $1.46 million. The stake represented roughly 0.8% of its portfolio and was its 12th-largest holding.
• Raymond James Financial reported better-than-expected quarterly earnings of $2.83 per share, topping estimates by $0.07, while revenue rose 13.4% from a year earlier to $3.86 billion.
• The company announced a quarterly dividend of $0.54 per share, or $2.16 annually, for a yield of about 1.3%. Analysts currently have a consensus Hold rating on the stock with a target price of $172.92.

Golden Road Advisors LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,061 shares of the financial services provider's stock, valued at approximately $1,457,000. Raymond James Financial comprises about 0.8% of Golden Road Advisors LLC's portfolio, making the stock its 12th biggest holding.

Several other large investors have also modified their holdings of RJF. Great Valley Advisor Group Inc. lifted its position in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock valued at $625,000 after buying an additional 61 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 68 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock worth $892,000 after acquiring an additional 68 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider's stock worth $297,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of RJF opened at $167.61 on Wednesday. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.28 and a beta of 0.93. The firm's fifty day simple moving average is $153.67 and its 200-day simple moving average is $156.16. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 earnings per share. Equities analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial's payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RJF. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Morgan Stanley raised their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Barclays reiterated an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. TD Cowen decreased their target price on Raymond James Financial from $159.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 28th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $172.92.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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