FORA Capital LLC Grows Position in Raymond James Financial, Inc. $RJF

Key Points

• FORA Capital LLC increased its stake in Raymond James Financial, Inc. by 216.7%, owning a total of 42,699 shares worth approximately $5.93 million at the end of the reporting period.
• Several institutional investors significantly boosted their holdings in Raymond James Financial, with Caisse DE Depot ET Placement DU Quebec increasing its stake by 187.8% and Jump Financial LLC by an astounding 2,456.0%.
• Raymond James Financial announced a quarterly dividend of $0.50 per share scheduled for payment on October 15th, representing an annual yield of 1.2%.

FORA Capital LLC grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 216.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,699 shares of the financial services provider's stock after purchasing an additional 29,218 shares during the quarter. FORA Capital LLC's holdings in Raymond James Financial were worth $5,931,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial during the 1st quarter worth $27,000. Golden State Wealth Management LLC grew its stake in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares during the period. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial during the 1st quarter worth $33,000. Finally, TCTC Holdings LLC lifted its holdings in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities increased their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised their price target on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods raised their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Trading Up 0.5%

Shares of RJF stock traded up $0.81 during trading hours on Friday, reaching $169.52. The company's stock had a trading volume of 843,298 shares, compared to its average volume of 857,490. The stock has a market capitalization of $33.80 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.39 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The firm's fifty day simple moving average is $161.85 and its 200 day simple moving average is $150.09. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued 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). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.Raymond James Financial's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 earnings per share. Equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

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

Raymond James Financial Company 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.