Peterson Wealth Services Purchases 735 Shares of Raymond James Financial, Inc. $RJF

Peterson Wealth Services raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,333 shares of the financial services provider’s stock after acquiring an additional 735 shares during the quarter. Raymond James Financial comprises 2.6% of Peterson Wealth Services’ investment portfolio, making the stock its 11th biggest holding. Peterson Wealth Services’ holdings in Raymond James Financial were worth $9,407,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Raymond James Financial by 82.6% in the first quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 2,197 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Raymond James Financial by 10.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 82,808 shares of the financial services provider’s stock valued at $11,503,000 after acquiring an additional 7,715 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Raymond James Financial during the 1st quarter valued at $349,000. Golden State Wealth Management LLC boosted 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 worth $28,000 after acquiring an additional 123 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in Raymond James Financial in the first quarter worth $27,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Thursday. TD Cowen raised their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday. BMO Capital Markets lifted their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $177.20.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $162.25 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a market cap of $32.35 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03. The stock’s fifty day simple moving average is $167.36 and its two-hundred day simple moving average is $156.36. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company earned $2.95 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 19.61%.

Raymond James Financial 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.