Raymond James Financial, Inc. $RJF Position Lifted by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in Raymond James Financial by 27.7% during the first quarter, acquiring an additional 6,158 shares to reach a total of 28,355 shares worth approximately $3.94 million.
• Raymond James reported earnings per share of $2.18 for the last quarter, missing expectations by $0.18, despite a 5.3% increase in revenue year-over-year.
• The company announced a $0.50 quarterly dividend, representing a 1.2% yield, with the payment scheduled for October 15th to investors on record by October 1st.

NewEdge Advisors LLC boosted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 27.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 28,355 shares of the financial services provider's stock after purchasing an additional 6,158 shares during the period. NewEdge Advisors LLC's holdings in Raymond James Financial were worth $3,939,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after acquiring an additional 197 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of 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 worth $28,000 after acquiring an additional 123 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at approximately $9,366,000. Assenagon Asset Management S.A. lifted its holdings in shares of Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after buying an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock valued at $65,058,000 after buying an additional 3,691 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on RJF shares. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JMP Securities boosted their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Trading Down 0.5%

Shares of NYSE:RJF traded down $0.86 during trading on Friday, reaching $170.22. The stock had a trading volume of 1,188,301 shares, compared to its average volume of 826,323. Raymond James Financial, Inc. has a fifty-two week low of $116.89 and a fifty-two week high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $164.55 and a 200-day moving average price of $150.93. The stock has a market cap of $33.94 billion, a P/E ratio of 16.69, a PEG ratio of 1.40 and a beta of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (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 firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the firm posted $2.39 EPS. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's payout ratio is 19.61%.

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.