Golden Road Advisors LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,061 shares of the financial services provider’s stock, valued at approximately $1,457,000. Raymond James Financial comprises approximately 0.8% of Golden Road Advisors LLC’s investment portfolio, making the stock its 12th biggest holding.
A number of other large investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 314 shares during the last quarter. Woodline Partners LP raised its position in Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 4,592 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Raymond James Financial by 137.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 685 shares during the period. Brown Advisory Inc. boosted its stake in Raymond James Financial by 15.1% during the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in Raymond James Financial during the 2nd quarter worth $363,000. 83.83% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
RJF has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. UBS Group reiterated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $172.92.
Raymond James Financial Price Performance
Raymond James Financial stock opened at $167.61 on Wednesday. The company has a market cap of $32.66 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The business has a fifty day moving average of $153.67 and a two-hundred day moving average of $156.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.
Raymond James Financial (NYSE:RJF – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company posted $2.42 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts predict that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.
Raymond James Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.
Raymond James Financial Profile
Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.
The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.
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