Vest Financial LLC Has $44.83 Million Stock Position in Raymond James Financial, Inc. $RJF

Vest Financial LLC raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 39.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 292,266 shares of the financial services provider’s stock after buying an additional 82,695 shares during the period. Vest Financial LLC’s holdings in Raymond James Financial were worth $44,825,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Raymond James Financial in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after buying an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in Raymond James Financial in the first quarter valued at approximately $33,000. TCTC Holdings LLC boosted its position in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after buying an additional 121 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Raymond James Financial by 364.3% in the first quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. BMO Capital Markets assumed coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $180.00 price target on the stock. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday. JMP Securities lifted their price target on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target 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, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.20.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $160.36 on Monday. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The firm has a fifty day simple moving average of $167.78 and a 200 day simple moving average of $154.55. The company has a market capitalization of $31.97 billion, a PE ratio of 15.72, a P/E/G ratio of 1.22 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 announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the business earned $2.39 EPS. Raymond James Financial’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side 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 will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 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.