Jump Financial LLC Purchases 60,024 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Jump Financial LLC increased its holdings in Raymond James Financial, Inc. by 2,456.0%, acquiring an additional 60,024 shares, bringing their total to 62,468 shares valued at approximately $8.68 million.
• Raymond James Financial's stock is currently up 1.9% and has reported quarterly earnings of $2.18 per share, which missed analysts' expectations by $0.18.
• The firm announced a quarterly dividend of $0.50 per share, with an annualized rate of $2.00, resulting in a yield of 1.2% for investors of record.

Jump Financial LLC grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 2,456.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,468 shares of the financial services provider's stock after buying an additional 60,024 shares during the quarter. Jump Financial LLC's holdings in Raymond James Financial were worth $8,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Formidable Asset Management LLC grew its position in shares of Raymond James Financial by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after purchasing an additional 67 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Raymond James Financial by 2.2% during the 1st 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 82 shares in the last quarter. Dynasty Wealth Management LLC grew its position in shares of Raymond James Financial by 4.9% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 94 shares in the last quarter. Finally, Brighton Jones LLC grew its position in shares of Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Raymond James Financial stock traded up $0.79 during midday trading on Thursday, reaching $168.74. 660,349 shares of the company traded hands, compared to its average volume of 1,295,592. The firm has a market capitalization of $33.64 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The business has a 50 day moving average of $161.03 and a two-hundred day moving average of $150.08. Raymond James Financial, Inc. has a 12 month low of $113.91 and a 12 month high of $174.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

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 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 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 firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RJF. Morgan Stanley lifted 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 report on Tuesday, July 15th. 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. Keefe, Bruyette & Woods upped their price objective on shares of 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. Bank of America cut shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, JMP Securities boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $163.80.

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.