Morningstar Investment Management LLC Boosts Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Morningstar Investment Management nearly doubled its stake in Raymond James Financial in the first quarter, increasing holdings by 92.7% to 50,079 shares valued at about $7.25 million.
• Raymond James Financial reported strong fiscal Q3 results, with earnings per share of $3.14 beating estimates and revenue rising 15.6% year over year to $3.93 billion.
• Analysts remain mixed but generally cautious: several firms raised price targets, while the stock’s consensus rating is still Hold with an average target price of $178.82.

Morningstar Investment Management LLC grew its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 92.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,079 shares of the financial services provider's stock after acquiring an additional 24,085 shares during the quarter. Morningstar Investment Management LLC's holdings in Raymond James Financial were worth $7,251,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. raised its position in Raymond James Financial by 1.5% in the 2nd 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 period. Salomon & Ludwin LLC lifted its stake in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Bridgewater Advisors Inc. boosted its position 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 period. 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. raised 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. Institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on RJF shares. TD Cowen cut their price objective on Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research report on Thursday. Barclays lifted their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup reaffirmed a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a "neutral" rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $178.82.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $169.27 on Friday. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.06 and a beta of 0.93. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $156.99 and its 200 day moving average is $156.61.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping 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 in the prior year, the business earned $2.18 earnings per share. Raymond James Financial's revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial's dividend payout ratio (DPR) is presently 18.83%.

Key Headlines Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

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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