Kestra Advisory Services LLC Acquires 5,643 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Kestra Advisory Services LLC significantly increased its stake in Raymond James Financial, acquiring 5,643 shares and growing its holdings by 128.4% in the 1st quarter, valuing their total holdings at $1.39 million.
• Several analysts have raised their price targets for Raymond James Financial, with Morgan Stanley increasing theirs from $136.00 to $180.00, reflecting growing confidence in the company's performance.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, representing a 1.2% annual yield, with the payment scheduled for October 15th.

Kestra Advisory Services LLC lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 128.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,038 shares of the financial services provider's stock after buying an additional 5,643 shares during the period. Kestra Advisory Services LLC's holdings in Raymond James Financial were worth $1,394,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Formidable Asset Management LLC grew its position in 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 worth $1,227,000 after acquiring an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its position in 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 worth $461,000 after acquiring an additional 73 shares during the last quarter. Farther Finance Advisors LLC grew its position in 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 worth $137,000 after acquiring an additional 82 shares during the last quarter. Dynasty Wealth Management LLC grew its position in 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 worth $280,000 after acquiring an additional 94 shares during the last quarter. Finally, Brighton Jones LLC grew its position in 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 worth $398,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Trading Down 3.8%

Shares of NYSE RJF traded down $6.44 during trading on Friday, reaching $164.66. The company had a trading volume of 422,319 shares, compared to its average volume of 1,279,751. The company's fifty day moving average price is $163.23 and its 200-day moving average price is $150.40. Raymond James Financial, Inc. has a 12 month low of $113.91 and a 12 month high of $174.32. The stock has a market cap of $32.83 billion, a P/E ratio of 16.15, a PEG ratio of 1.37 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm posted $2.39 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report 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 given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $163.80.

About Raymond James Financial

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.