Jones Financial Companies Lllp Increases Position in Raymond James Financial, Inc. $RJF

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Raymond James Financial, Inc. by 4,174.3%, now owning $6 million worth of shares after purchasing an additional 42,202 shares in the 1st quarter.
• Several analyst firms have raised their price targets for Raymond James Financial, with JMP Securities increasing it to $180.00, while the company currently has a consensus rating of "Hold" and an average price target of $163.80.
• Raymond James Financial reported quarterly earnings of $2.18 per share, missing estimates, while also announcing a quarterly dividend of $0.50 per share, to be paid on October 15th.

Jones Financial Companies Lllp grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4,174.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,213 shares of the financial services provider's stock after acquiring an additional 42,202 shares during the period. Jones Financial Companies Lllp's holdings in Raymond James Financial were worth $6,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC raised its stake in shares of 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 valued at $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $33,000. Finally, TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target 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. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JMP Securities boosted their price objective 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. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Down 0.5%

Shares of RJF stock traded down $0.86 during trading hours on Friday, reaching $170.22. 1,188,301 shares of the company's stock were exchanged, compared to its average volume of 826,323. The stock's 50 day moving average is $164.55 and its 200-day moving average is $150.93. The company has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.40 and a beta of 1.04. 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 fifty-two week low of $116.89 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.40 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $2.39 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

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.