Raymond James Financial, Inc. $RJF Shares Acquired by Avity Investment Management Inc.

Key Points

• Avity Investment Management Inc. increased its stake in Raymond James Financial by 6.6%, now owning approximately $24,187,000 worth of shares.
• Several institutional investors, including Vanguard Group and T. Rowe Price, have boosted their holdings in Raymond James Financial during the last quarter, with institutional ownership reaching 83.83%.
• Raymond James Financial reported a quarterly EPS of $2.18, missing expectations, while announcing a $0.50 per share dividend to be paid on October 15th.

Avity Investment Management Inc. boosted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,706 shares of the financial services provider's stock after purchasing an additional 9,830 shares during the period. Raymond James Financial makes up approximately 1.8% of Avity Investment Management Inc.'s holdings, making the stock its 27th biggest position. Avity Investment Management Inc. owned about 0.08% of Raymond James Financial worth $24,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Raymond James Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock valued at $3,089,942,000 after purchasing an additional 347,916 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Raymond James Financial by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider's stock worth $574,590,000 after purchasing an additional 29,086 shares during the period. Invesco Ltd. grew its position in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock worth $403,038,000 after purchasing an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock worth $324,390,000 after purchasing an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Raymond James Financial by 6.7% during the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider's stock valued at $312,259,000 after purchasing an additional 140,704 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RJF. Wells Fargo & Company boosted their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their target price 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. JMP Securities boosted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

Shares of RJF opened at $170.22 on Monday. The company's fifty day moving average is $164.55 and its 200-day moving average is $150.92. Raymond James Financial, Inc. has a 12 month low of $116.89 and a 12 month high of $174.32. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.38% and a net margin of 13.56%.The business 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 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is 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.

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