Raymond James Financial, Inc. $RJF Shares Acquired by Peterson Wealth Services

Key Points

• Peterson Wealth Services increased its Raymond James Financial stake by 81.2% in the fourth quarter, ending with 60,930 shares valued at about $9.8 million.
• Raymond James reported better-than-expected EPS of $2.83 for the latest quarter, though revenue of $3.86 billion came in slightly below forecasts; analysts now expect full-year EPS of 11.82.
• The company declared a quarterly dividend of $0.54 per share, payable July 15, implying an annualized yield of about 1.4%.

Peterson Wealth Services grew its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 81.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,930 shares of the financial services provider's stock after purchasing an additional 27,313 shares during the quarter. Raymond James Financial makes up approximately 2.5% of Peterson Wealth Services' holdings, making the stock its 11th biggest holding. Peterson Wealth Services' holdings in Raymond James Financial were worth $9,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Raymond James Financial by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock valued at $1,009,342,000 after purchasing an additional 230,871 shares in the last quarter. First Trust Advisors LP grew its position in shares of Raymond James Financial by 4.5% during the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider's stock valued at $448,332,000 after buying an additional 111,950 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Raymond James Financial by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider's stock valued at $406,941,000 after buying an additional 227,337 shares during the last quarter. Norges Bank bought a new stake in shares of Raymond James Financial during the 4th quarter valued at about $324,263,000. Finally, Bank of New York Mellon Corp grew its position in shares of Raymond James Financial by 22.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider's stock valued at $192,987,000 after buying an additional 216,907 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Price Performance

NYSE RJF opened at $150.33 on Friday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $29.30 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a 50-day moving average price of $150.84 and a two-hundred day moving average price of $156.55.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. Raymond James Financial's quarterly revenue was up 13.4% on a year-over-year basis. Analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial's dividend payout ratio is 20.42%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RJF shares. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. BMO Capital Markets boosted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. TD Cowen lowered their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 28th. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $172.92.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.58% of the company's stock.

Raymond James Financial Profile

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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