Landscape Capital Management L.L.C. Increases Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• Landscape Capital Management L.L.C. increased its stake in Raymond James Financial by 23.5%, owning 16,358 shares worth $2.27 million as of the recent SEC filing.
• Several analysts have raised their target prices for Raymond James Financial, with JMP Securities and Morgan Stanley setting targets of $180.00.
• The company has announced a quarterly dividend of $0.50 per share, payable on October 15th, reflecting an annualized yield of 1.2%.

Landscape Capital Management L.L.C. raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,358 shares of the financial services provider's stock after purchasing an additional 3,115 shares during the period. Landscape Capital Management L.L.C.'s holdings in Raymond James Financial were worth $2,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Formidable Asset Management LLC boosted its position in Raymond James Financial by 0.9% in 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 grew its stake 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 worth $461,000 after purchasing an additional 73 shares during the period. Farther Finance Advisors LLC increased its holdings 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 boosted its holdings in Raymond James Financial by 4.9% during the first quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock worth $280,000 after buying an additional 94 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in Raymond James Financial by 3.6% in the first quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after buying an additional 100 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on RJF shares. JPMorgan Chase & Co. increased their price target 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. Morgan Stanley raised their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. 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. Finally, Citigroup restated 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 assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Trading Down 0.9%

Shares of NYSE:RJF traded down $1.50 during mid-day trading on Wednesday, reaching $166.82. 151,284 shares of the company were exchanged, compared to its average volume of 1,284,065. Raymond James Financial, Inc. has a 1 year low of $113.91 and a 1 year 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. The firm's 50-day simple moving average is $162.57 and its 200 day simple moving average is $150.21. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.39 and a beta of 1.04.

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 return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company earned $2.39 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

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