Regency Capital Management Inc. DE Takes Position in Raymond James Financial, Inc. $RJF

Key Points

• Regency Capital Management Inc. DE has acquired 27,678 shares of Raymond James Financial, valued at approximately $4.25 million, making it the 16th largest holding in their portfolio.
• Analysts have revised price targets for Raymond James Financial, with JMP Securities increasing their target to $180.00 and maintaining a 'market outperform' rating.
• Raymond James Financial recently announced a quarterly dividend of $0.50, representing an annualized yield of 1.2%, with a payout ratio of 19.61%.

Regency Capital Management Inc. DE purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,678 shares of the financial services provider's stock, valued at approximately $4,245,000. Raymond James Financial comprises approximately 2.2% of Regency Capital Management Inc. DE's investment portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in Raymond James Financial during the first quarter worth $27,000. Golden State Wealth Management LLC increased its stake in Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial during the first quarter worth $33,000. Finally, TCTC Holdings LLC raised its holdings in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the period. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JMP Securities boosted their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Raymond James Financial in a report on Saturday, September 27th. Citigroup reiterated a "neutral" rating and set a $180.00 price target (up from $170.00) on shares of Raymond James Financial in a research report on Monday, September 22nd. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $171.10.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $167.70 on Tuesday. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.28 and a beta of 1.03. The business has a 50 day simple moving average of $168.04 and a 200 day simple moving average of $154.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm earned $2.39 EPS. The firm's revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is currently 19.61%.

Raymond James Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.