Abacus Planning Group Inc. Makes New $222,000 Investment in Raymond James Financial, Inc. $RJF

Abacus Planning Group Inc. acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,447 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other hedge funds also recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the first quarter valued at approximately $25,000. Vest Financial LLC bought a new position in shares of Raymond James Financial during the 1st quarter valued at $29,112,000. Wedmont Private Capital raised its position in Raymond James Financial by 450.0% in the 1st quarter. Wedmont Private Capital now owns 10,318 shares of the financial services provider’s stock worth $1,396,000 after purchasing an additional 8,442 shares during the period. Bank of New Hampshire raised its position in Raymond James Financial by 9.0% in the 1st quarter. Bank of New Hampshire now owns 10,835 shares of the financial services provider’s stock worth $1,505,000 after purchasing an additional 896 shares during the period. Finally, Portside Wealth Group LLC lifted its stake in Raymond James Financial by 5.6% in the first quarter. Portside Wealth Group LLC now owns 2,469 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RJF shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research note on Saturday, September 27th. Wells Fargo & Company lifted their price target 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. 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. Morgan Stanley raised their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Citigroup reiterated a “neutral” rating and set a $180.00 price target (up from $170.00) on shares of Raymond James Financial in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $171.10.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $166.64 on Friday. The business has a 50 day moving average of $168.04 and a 200 day moving average of $153.70. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a market cap of $33.22 billion, a PE ratio of 16.34, a P/E/G ratio of 1.28 and a beta of 1.03. 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 (NYSE:RJF) last issued its quarterly earnings data 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 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 analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is 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.