LMG Wealth Partners LLC Has $6.20 Million Stock Holdings in Raymond James Financial, Inc. $RJF

LMG Wealth Partners LLC lifted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,440 shares of the financial services provider’s stock after purchasing an additional 349 shares during the quarter. Raymond James Financial comprises 1.3% of LMG Wealth Partners LLC’s holdings, making the stock its 24th biggest position. LMG Wealth Partners LLC’s holdings in Raymond James Financial were worth $6,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RJF. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in Raymond James Financial by 164.0% during the 1st 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 during the last quarter. Olde Wealth Management LLC acquired a new position in Raymond James Financial during the 1st quarter worth approximately $33,000. TCTC Holdings LLC boosted its position in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 121 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Raymond James Financial by 364.3% during the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 255 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. 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 report on Friday, July 11th. Morgan Stanley increased their price objective on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $172.20.

Raymond James Financial Price Performance

Shares of RJF opened at $161.50 on Monday. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The business has a 50-day moving average of $167.39 and a 200-day moving average of $155.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. 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 issued 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). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. The ex-dividend date 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 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.