Resona Asset Management Co. Ltd. Grows Position in Raymond James Financial, Inc. $RJF

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Raymond James Financial, acquiring an additional 2,985 shares, raising their total to 62,720 shares valued at approximately $8.7 million.
• Analysts have raised their price targets for Raymond James Financial, with JPMorgan increasing theirs from $151 to $172, while Morgan Stanley's target rose from $136 to $180, reflecting growing confidence in the stock.
• Raymond James Financial recently reported a quarterly earnings miss, with EPS of $2.18 compared to analysts' expectations of $2.36, despite a year-over-year revenue increase of 5.3% to $3.40 billion.

Resona Asset Management Co. Ltd. boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,720 shares of the financial services provider's stock after buying an additional 2,985 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Raymond James Financial were worth $8,713,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial during the 1st quarter worth $25,000. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial in the first quarter valued at approximately $33,000. Finally, TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

Shares of RJF traded down $0.0360 during trading hours on Tuesday, reaching $164.3240. 158,193 shares of the company traded hands, compared to its average volume of 1,312,745. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $32.76 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The stock has a fifty day simple moving average of $158.57 and a 200 day simple moving average of $149.91.

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

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's payout ratio is 19.61%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider owned 74,586 shares of the company's stock, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Morgan Stanley boosted their target price 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. Keefe, Bruyette & Woods raised their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, JMP Securities upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Company 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.