Raymond James Financial, Inc. $RJF Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 63.5% in the second quarter, Holdings Channel reports. The fund owned 806 shares of the financial services provider’s stock after buying an additional 313 shares during the period. Assetmark Inc.’s holdings in Raymond James Financial were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after acquiring an additional 347,916 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Raymond James Financial by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after purchasing an additional 29,086 shares in the last quarter. Invesco Ltd. increased its stake in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Raymond James Financial by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock worth $324,390,000 after purchasing an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Raymond James Financial by 6.7% during the first quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock worth $312,259,000 after purchasing an additional 140,704 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RJF. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. TD Cowen raised their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. BMO Capital Markets boosted their target price on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.20.

Raymond James Financial Trading Up 1.3%

Shares of RJF stock opened at $162.92 on Monday. The company has a market capitalization of $32.48 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. 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 business’s 50 day moving average is $166.11 and its two-hundred day moving average is $158.67. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued 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. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.95 earnings per share. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s payout ratio is presently 19.44%.

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.