Sciencast Management LP Makes New $1.59 Million Investment in Raymond James Financial, Inc. $RJF

Key Points

• Sciencast Management LP acquired 11,437 shares of Raymond James Financial, Inc. for approximately $1,589,000 during the first quarter.
• The company recently reported an EPS of $2.18, which was below analysts' expectations of $2.36, while revenue increased by 5.3% year-over-year.
• Raymond James Financial declared a quarterly dividend of $0.50, with an annual dividend yield of 1.2%, set to be paid on October 15th.

Sciencast Management LP bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,437 shares of the financial services provider's stock, valued at approximately $1,589,000.

A number of other hedge funds have also recently bought and sold shares of RJF. Formidable Asset Management LLC increased its position in Raymond James Financial by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock worth $1,227,000 after buying an additional 67 shares during the period. Venturi Wealth Management LLC increased its position in Raymond James Financial by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after buying an additional 73 shares during the period. EP Wealth Advisors LLC increased its position in Raymond James Financial by 5.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock worth $209,000 after buying an additional 78 shares during the period. Cigna Investments Inc. New increased its position in Raymond James Financial by 4.1% in the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider's stock worth $284,000 after buying an additional 81 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after buying an additional 82 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

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

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.39 EPS. Equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on RJF shares. JPMorgan Chase & Co. lifted 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. 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. Morgan Stanley boosted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. One 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 company. 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 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.