State of Wyoming Acquires 2,521 Shares of Raymond James Financial, Inc. $RJF

Key Points

• The State of Wyoming increased its holdings in Raymond James Financial by 110.6% in Q1, now owning 4,801 shares valued at approximately $667,000.
• Raymond James Financial reported $2.18 EPS for the last quarter, missing estimates by $0.18, although its revenue of $3.40 billion slightly exceeded forecasts.
• The company declared a quarterly dividend of $0.50, with a payout ratio of 19.61%, and the dividend yield stands at 1.2%.

State of Wyoming grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 110.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,801 shares of the financial services provider's stock after buying an additional 2,521 shares during the period. State of Wyoming's holdings in Raymond James Financial were worth $667,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new position in Raymond James Financial during the first quarter worth about $27,000. Golden State Wealth Management LLC grew its position 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 worth $28,000 after buying an additional 123 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Raymond James Financial during the first quarter worth about $33,000. Finally, TCTC Holdings LLC grew its position in 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 buying an additional 121 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RJF has been the topic of a number of research analyst reports. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. JMP Securities boosted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Morgan Stanley boosted their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Trading Down 1.1%

Shares of RJF traded down $1.80 during trading hours on Wednesday, reaching $166.52. 431,491 shares of the company traded hands, compared to its average volume of 1,285,490. The company's fifty day moving average price is $162.57 and its two-hundred day moving average price is $150.21. The company has a market capitalization of $33.20 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 12 month low of $113.91 and a 12 month 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid 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 presently 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.