Lombard Odier Asset Management Switzerland SA Invests $854,000 in Raymond James Financial, Inc. $RJF

Key Points

• Lombard Odier Asset Management Switzerland acquired 5,900 shares of Raymond James Financial in the first quarter, valued at approximately $854,000. Institutional investors collectively own 83.83% of the company.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $179.64; recent targets range from $161 to $205.
• Raymond James reported strong quarterly results, posting $3.14 in earnings per share and $3.93 billion in revenue, exceeding estimates and representing 15.6% year-over-year revenue growth. The company also pays a quarterly dividend of $0.54, yielding about 1.2% annually.

Lombard Odier Asset Management Switzerland SA acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,900 shares of the financial services provider's stock, valued at approximately $854,000.

A number of other large investors also recently added to or reduced their stakes in RJF. Great Valley Advisor Group Inc. lifted its stake in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after purchasing an additional 61 shares during the last quarter. Salomon & Ludwin LLC boosted its position in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after buying an additional 65 shares during the period. Bridgewater Advisors Inc. grew its stake in shares of Raymond James Financial by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock valued at $892,000 after buying an additional 68 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider's stock valued at $297,000 after buying an additional 71 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Raymond James Financial by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider's stock worth $358,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

RJF has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. TD Cowen decreased their price target on Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Citizens Jmp boosted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Citigroup reissued a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $179.64.

Raymond James Financial Price Performance

RJF stock opened at $173.57 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a 50 day moving average price of $157.38 and a 200-day moving average price of $156.57. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The firm has a market capitalization of $33.83 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.06 and a beta of 0.93.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the company earned $2.18 EPS. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial, Inc. will post 12.01 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial's payout ratio is currently 18.83%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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