Voleon Capital Management LP Makes New Investment in Raymond James Financial, Inc. $RJF

Key Points

• Voleon Capital Management LP has acquired a new stake in Raymond James Financial, adding 16,788 shares valued at approximately $2.33 million during the 1st quarter.
• Raymond James Financial recently reported quarterly earnings of $2.18 per share, missing the consensus estimate by $0.18, but its revenue increased by 5.3% compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.50, scheduled to be paid on October 15th, with an annualized yield of 1.2%.

Voleon Capital Management LP purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,788 shares of the financial services provider's stock, valued at approximately $2,332,000.

A number of other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Raymond James Financial by 178.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,949 shares of the financial services provider's stock valued at $1,521,000 after buying an additional 7,017 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Raymond James Financial by 44.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock worth $237,305,000 after purchasing an additional 525,134 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Raymond James Financial by 4,174.3% during the 1st quarter. Jones Financial Companies Lllp now owns 43,213 shares of the financial services provider's stock worth $6,003,000 after purchasing an additional 42,202 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Raymond James Financial during the 1st quarter worth about $1,347,000. Finally, UniSuper Management Pty Ltd lifted its holdings in Raymond James Financial by 6.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 19,701 shares of the financial services provider's stock worth $2,737,000 after purchasing an additional 1,241 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Trading Down 0.5%

RJF traded down $0.86 on Friday, hitting $170.22. 1,188,301 shares of the company were exchanged, compared to its average volume of 826,323. The firm has a fifty day simple moving average of $164.55 and a two-hundred day simple moving average of $150.93. 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 12 month low of $116.89 and a 12 month high of $174.32. The stock has a market capitalization of $33.94 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04.

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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the business earned $2.39 earnings per share. Raymond James Financial's revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

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 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Wall Street Analysts Forecast Growth

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

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.