Raymond James Financial, Inc. $RJF Holdings Raised by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Raymond James Financial, Inc. by 4.1% during the second quarter, now holding 38,676 shares valued at approximately $5.93 million.
• Raymond James Financial reported an earnings per share of $2.18 for the last quarter, missing the consensus estimate by 18 cents, while revenue increased by 5.3% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, payable on October 15th, with a current yield of 1.1%.

IFM Investors Pty Ltd lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,676 shares of the financial services provider's stock after purchasing an additional 1,517 shares during the quarter. IFM Investors Pty Ltd's holdings in Raymond James Financial were worth $5,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Formidable Asset Management LLC grew its stake in shares of Raymond James Financial by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after buying an additional 67 shares during the last quarter. Venturi Wealth Management LLC raised its position in Raymond James Financial by 2.2% in the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 73 shares during the period. EP Wealth Advisors LLC raised its position in Raymond James Financial by 5.5% in the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock valued at $209,000 after purchasing an additional 78 shares during the period. Cigna Investments Inc. New grew its stake in shares of Raymond James Financial by 4.1% during the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider's stock worth $284,000 after purchasing an additional 81 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

RJF stock traded down $0.26 during midday trading on Tuesday, reaching $175.06. The stock had a trading volume of 392,246 shares, compared to its average volume of 1,276,734. The company has a market cap of $34.90 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.04. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company's fifty day simple moving average is $166.14 and its 200 day simple moving average is $151.96. 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 (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm 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 firm earned $2.39 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.1%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Analyst Ratings Changes

Several research firms recently issued reports on RJF. Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of 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. Citigroup reiterated a "neutral" rating and issued a $180.00 target price (up previously from $170.00) on shares of Raymond James Financial in a research note on Monday. JMP Securities raised their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $165.30.

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.