Raymond James Financial, Inc. $RJF Shares Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Raymond James Financial by 41.9%, owning 5,431 shares worth $755,000 following the purchase of an additional 1,604 shares in the first quarter.
• Raymond James Financial reported $2.18 EPS for the last quarter, missing analysts' estimates of $2.36, but still showed a 5.3% increase in revenue year-over-year with a total of $3.40 billion.
• The company declared a quarterly dividend of $0.50 per share, with an annualized yield of 1.2%, to be paid on October 15th, while maintaining a payout ratio of 19.61%.

Vident Advisory LLC boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 41.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,431 shares of the financial services provider's stock after acquiring an additional 1,604 shares during the quarter. Vident Advisory LLC's holdings in Raymond James Financial were worth $755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new position in Raymond James Financial in the 1st quarter worth $7,914,000. Canada Pension Plan Investment Board increased its holdings in Raymond James Financial by 105.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 246,344 shares of the financial services provider's stock worth $34,220,000 after acquiring an additional 126,431 shares in the last quarter. State of Wyoming increased its holdings in Raymond James Financial by 110.6% in the 1st quarter. State of Wyoming now owns 4,801 shares of the financial services provider's stock worth $667,000 after acquiring an additional 2,521 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Raymond James Financial by 23.5% during the first quarter. Landscape Capital Management L.L.C. now owns 16,358 shares of the financial services provider's stock valued at $2,272,000 after purchasing an additional 3,115 shares in the last quarter. Finally, Oarsman Capital Inc. boosted its position in shares of Raymond James Financial by 2.0% in the first quarter. Oarsman Capital Inc. now owns 10,866 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RJF. Wells Fargo & Company upped their price objective on 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. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Morgan Stanley raised their target price 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" 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 issued a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Trading Up 0.7%

NYSE:RJF traded up $1.10 during mid-day trading on Wednesday, hitting $166.69. 577,986 shares of the stock traded hands, compared to its average volume of 855,097. 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 52 week low of $113.91 and a 52 week high of $174.32. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.36 and a beta of 1.04. The firm's 50 day moving average is $164.12 and its two-hundred day moving average is $150.66.

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 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 company 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 firm posted $2.39 EPS. The business's revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

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.