Raymond James Financial, Inc. $RJF Shares Purchased by Cadent Capital Advisors LLC

Key Points

• Cadent Capital Advisors LLC increased its holdings in Raymond James Financial by 187.2%, owning 6,246 shares valued at approximately $958,000, following the purchase of an additional 4,071 shares.
• Raymond James Financial reported a quarterly EPS of $2.18, missing analysts' expectations of $2.36, but achieved a 5.3% year-over-year revenue growth with $3.40 billion in revenue.
• The company announced a quarterly dividend of $0.50, representing an annualized dividend yield of 1.2% and a payout ratio of 19.61%.

Cadent Capital Advisors LLC boosted its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 187.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,246 shares of the financial services provider's stock after acquiring an additional 4,071 shares during the quarter. Cadent Capital Advisors LLC's holdings in Raymond James Financial were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. Toronto Dominion Bank lifted its stake in shares of Raymond James Financial by 3.2% during the fourth quarter. Toronto Dominion Bank now owns 68,697 shares of the financial services provider's stock worth $10,670,000 after purchasing an additional 2,158 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Raymond James Financial by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 27,590 shares of the financial services provider's stock worth $4,286,000 after purchasing an additional 4,309 shares in the last quarter. Integrated Advisors Network LLC acquired a new position in shares of Raymond James Financial during the fourth quarter worth about $232,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Raymond James Financial during the fourth quarter worth about $17,379,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Raymond James Financial by 11.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,628 shares of the financial services provider's stock worth $6,621,000 after purchasing an additional 4,269 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Performance

RJF opened at $172.11 on Friday. The company has a market capitalization of $34.32 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The business has a 50 day moving average price of $167.10 and a two-hundred day moving average price of $152.51.

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 EPS 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 company 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 posted $2.39 EPS. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RJF shares. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley lifted 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. Citigroup reaffirmed a "neutral" rating and set a $180.00 target price (up from $170.00) on shares of Raymond James Financial in a research report on Monday. Finally, JMP Securities lifted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $165.30.

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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