2,226 Shares in Raymond James Financial, Inc. $RJF Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) in Q1, purchasing 2,226 shares valued at approximately $309,000.
• Analysts have raised their price targets for RJF, with JMP Securities increasing it to $180.00 and JPMorgan Chase raising it to $172.00, indicating a generally positive outlook for the stock.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, marking an annualized dividend yield of 1.2%, with the payment scheduled for October 15th.

MBB Public Markets I LLC acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,226 shares of the financial services provider's stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Services Automobile Association acquired a new stake in shares of Raymond James Financial during the first quarter worth $605,000. Sciencast Management LP purchased a new position in Raymond James Financial during the first quarter worth about $1,589,000. Voleon Capital Management LP acquired a new stake in Raymond James Financial in the 1st quarter worth about $2,332,000. Ashton Thomas Private Wealth LLC grew its holdings in Raymond James Financial by 178.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,949 shares of the financial services provider's stock valued at $1,521,000 after buying an additional 7,017 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Raymond James Financial by 44.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock valued at $237,305,000 after acquiring an additional 525,134 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Down 0.5%

Raymond James Financial stock traded down $0.86 during trading on Friday, reaching $170.22. 1,188,301 shares of the company's stock were exchanged, compared to its average volume of 826,323. Raymond James Financial, Inc. has a 52-week low of $116.89 and a 52-week high of $174.32. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company's 50-day moving average is $164.55 and its two-hundred day moving average is $150.92.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $3.38 billion. During the same period last year, the business earned $2.39 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. The ex-dividend date 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 (DPR) is currently 19.61%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RJF. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. JMP Securities lifted 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 report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods increased their target price 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, JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One 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, the stock 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.