Raymond James Financial, Inc. $RJF Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has increased its holdings in Raymond James Financial by 3.7%, owning approximately 107,634 shares valued at around $16.6 million.
• Raymond James Financial reported $2.18 earnings per share for the last quarter, missing estimates, but had a revenue of $3.40 billion, exceeding expectations with a 5.3% increase year-over-year.
• The company declared a quarterly dividend of $0.50 per share, reflecting a 1.2% yield, with a low dividend payout ratio of 19.61%.

Allspring Global Investments Holdings LLC raised its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,634 shares of the financial services provider's stock after acquiring an additional 3,842 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Raymond James Financial worth $16,645,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RJF. Alpine Bank Wealth Management acquired a new stake in Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC raised its holdings in 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 acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Raymond James Financial in the 1st quarter valued at about $33,000. TCTC Holdings LLC grew its stake in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock valued at $45,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $161.50 on Friday. 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, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The stock has a market capitalization of $32.20 billion, a PE ratio of 15.83, a P/E/G ratio of 1.22 and a beta of 1.03. The firm has a 50 day moving average of $167.39 and a two-hundred day moving average of $155.13.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business posted $2.39 earnings per share. Raymond James Financial's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. BMO Capital Markets assumed coverage on shares of Raymond James Financial in a research note on Friday, October 3rd. They issued a "market perform" rating and a $180.00 price target for the company. Finally, Wells Fargo & Company increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $172.20.

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.

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