Resona Asset Management Co. Ltd. Raises Stake in Raymond James Financial, Inc. $RJF

Resona Asset Management Co. Ltd. grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,741 shares of the financial services provider’s stock after acquiring an additional 3,021 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Raymond James Financial were worth $10,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RJF. Capital Investment Advisors LLC increased its holdings in shares of Raymond James Financial by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock worth $1,170,000 after buying an additional 68 shares during the period. Venturi Wealth Management LLC lifted its position in Raymond James Financial by 2.2% in the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 73 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Raymond James Financial by 5.5% during the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 78 shares during the period. Tectonic Advisors LLC grew its holdings in shares of Raymond James Financial by 2.6% in the second quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 80 shares during the last quarter. Finally, Cigna Investments Inc. New increased its stake in shares of Raymond James Financial by 4.1% in the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock worth $284,000 after buying an additional 81 shares during the period. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RJF. TD Cowen upped their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. JMP Securities increased their price objective on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, Morgan Stanley boosted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $177.20.

Raymond James Financial Stock Up 1.3%

NYSE:RJF opened at $162.92 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm’s 50-day moving average price is $166.11 and its 200-day moving average price is $158.51. The company has a market capitalization of $32.48 billion, a PE ratio of 15.83, a P/E/G ratio of 1.19 and a beta of 1.05. 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 quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the company posted $2.95 EPS. Raymond James Financial’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal 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. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a 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.