Raymond James Financial, Inc. $RJF Shares Bought by Atlas Wealth LLC

Key Points

• Atlas Wealth LLC increased its stake in Raymond James Financial by 135.7% in the first quarter, buying 12,857 additional shares and bringing its total to 22,332 shares worth about $3.23 million.
• Raymond James Financial reported Q2 earnings of $2.83 per share, topping estimates, while revenue rose 13.4% year over year to $3.86 billion. The company also paid a quarterly dividend of $0.54 per share, or $2.16 annualized.
• Analysts are mixed on the stock, with an average rating of Hold and an average price target of $176.64. The shares were trading down 0.8% at $168.41, with institutional investors owning 83.83% of the stock.

Atlas Wealth LLC grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 135.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,332 shares of the financial services provider's stock after acquiring an additional 12,857 shares during the quarter. Atlas Wealth LLC's holdings in Raymond James Financial were worth $3,233,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider's stock valued at $3,272,000 after buying an additional 17,407 shares during the period. Algebris UK Ltd. acquired a new position in Raymond James Financial during the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its stake in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider's stock valued at $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Raymond James Financial by 7.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider's stock valued at $17,343,000 after purchasing an additional 7,202 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider's stock valued at $6,654,000 after acquiring an additional 9,838 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Trading Down 0.8%

Shares of Raymond James Financial stock opened at $168.41 on Friday. The firm has a market capitalization of $32.82 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.08 and a beta of 0.93. The stock has a 50 day moving average of $155.56 and a 200 day moving average of $156.41. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial's dividend payout ratio is currently 20.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citizens Jmp raised their target price on Raymond James Financial from $190.00 to $200.00 and gave the company a "market outperform" rating in a research report on Thursday, July 9th. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. Jefferies Financial Group cut their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. UBS Group reissued a "neutral" rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of "Hold" and an average target price of $176.64.

Raymond James Financial Company 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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