Vanguard Personalized Indexing Management LLC Acquires 2,298 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Raymond James Financial by 7.9%, acquiring an additional 2,298 shares during the second quarter, bringing its total ownership to 31,527 shares valued at approximately $4.8 million.
• Raymond James Financial reported $2.18 EPS for the last quarter, which was below the consensus estimate of $2.36, although revenues increased by 5.3% year-over-year.
• The company declared a quarterly dividend of $0.50 per share, set to be paid on October 15, representing an annualized yield of 1.3% and a payout ratio of 19.61%.

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,527 shares of the financial services provider's stock after acquiring an additional 2,298 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Raymond James Financial were worth $4,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Alpine Bank Wealth Management bought a new position in Raymond James Financial in the 1st quarter worth about $27,000. Golden State Wealth Management LLC grew 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 acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new stake in Raymond James Financial during the 1st quarter worth approximately $33,000. TCTC Holdings LLC increased 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 acquiring an additional 121 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Trading Down 0.3%

RJF stock opened at $159.76 on Tuesday. The company has a market capitalization of $31.85 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company's 50 day moving average price is $167.65 and its two-hundred day moving average price is $154.70.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its 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). 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 prior year, the business posted $2.39 EPS. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts predict 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped 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 report on Friday, July 11th. Keefe, Bruyette & Woods upped their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. BMO Capital Markets assumed coverage on shares of Raymond James Financial in a research report on Friday, October 3rd. They issued a "market perform" rating and a $180.00 price objective on the stock. Finally, JMP Securities raised their target price on shares of Raymond James Financial from $180.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $172.20.

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.

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