Invesco Ltd. Buys 466,129 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Invesco Ltd. increased its holdings in Raymond James Financial by 19.1%, owning approximately 2.9 million shares valued at $403 million at the end of the 1st quarter.
• Recent price target adjustments by analysts have ranged from $151 to $172, with the average target now at $163.80 and an overall rating of "Hold."
• Raymond James Financial recently declared a quarterly dividend of $0.50 per share, providing an annualized yield of 1.2% with a payout ratio of 19.61%.

Invesco Ltd. lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 19.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,901,435 shares of the financial services provider's stock after purchasing an additional 466,129 shares during the quarter. Invesco Ltd. owned 1.42% of Raymond James Financial worth $403,038,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. grew its holdings in Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after buying an additional 197 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Raymond James Financial by 164.0% during the first 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 in the last quarter. Jefferies Financial Group Inc. bought a new position in Raymond James Financial in the 4th quarter valued at $9,366,000. Assenagon Asset Management S.A. grew its stake in Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after purchasing an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock valued at $65,058,000 after purchasing an additional 3,691 shares during the period. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RJF. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Morgan Stanley upped their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JMP Securities upped their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Stock Performance

Shares of RJF stock traded up $0.92 on Thursday, hitting $164.76. 906,369 shares of the stock were exchanged, compared to its average volume of 1,325,872. 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 firm has a market capitalization of $32.85 billion, a PE ratio of 16.15, a P/E/G ratio of 1.38 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The firm's 50 day moving average is $157.46 and its two-hundred day moving average is $150.32.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $2.39 EPS. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio is 19.61%.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.