Applied Finance Capital Management LLC Buys 290 Shares of Raymond James Financial, Inc. $RJF

Applied Finance Capital Management LLC boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,995 shares of the financial services provider’s stock after purchasing an additional 290 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Raymond James Financial were worth $766,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RJF. D.A. Davidson & CO. boosted its position in shares of Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 197 shares during the period. Abacus Planning Group Inc. bought a new stake in shares of Raymond James Financial in the second quarter valued at approximately $222,000. Swedbank AB boosted its position in shares of Raymond James Financial by 173.0% in the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock valued at $4,846,000 after acquiring an additional 20,022 shares during the period. Golden State Wealth Management LLC boosted its position in shares of 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 acquiring an additional 123 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Raymond James Financial by 0.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock valued at $65,058,000 after acquiring an additional 3,691 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $161.50 on Friday. The business has a fifty day simple moving average of $167.39 and a 200 day simple moving average of $155.13. 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 firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.22 and a beta of 1.03. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RJF shares. Keefe, Bruyette & Woods increased 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. JMP Securities increased their price objective on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Wells Fargo & Company increased their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Morgan Stanley upped their target price on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, BMO Capital Markets began coverage on Raymond James Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $180.00 target price for the company. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $172.20.

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.