Raymond James Financial, Inc. $RJF Shares Purchased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 69.0% in the second quarter, HoldingsChannel reports. The firm owned 245 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Raymond James Financial were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RJF. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial during the first quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 123 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial during the first quarter worth about $33,000. TCTC Holdings LLC lifted its holdings in shares of 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 purchasing an additional 121 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Raymond James Financial by 364.3% during the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. BMO Capital Markets started coverage on Raymond James Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price for the company. JMP Securities boosted their price target on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $172.20.

Raymond James Financial Trading Up 0.6%

Shares of NYSE:RJF opened at $165.96 on Wednesday. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a market capitalization of $33.09 billion, a PE ratio of 16.27, a PEG ratio of 1.26 and a beta of 1.03. The business has a 50 day moving average of $167.33 and a two-hundred day moving average of $155.75. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.39 earnings per share. As a group, analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a $0.50 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s payout ratio 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.