Raymond James (NYSE:RJF) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Raymond James (NYSE:RJF) by 1.4% in the 3rd quarter, Holdings Channel reports. The fund owned 6,115 shares of the financial services provider’s stock after acquiring an additional 82 shares during the period. Metis Global Partners LLC’s holdings in Raymond James were worth $749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wolff Wiese Magana LLC grew its stake in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter valued at approximately $29,000. Covestor Ltd grew its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the third quarter worth $32,000. Finally, Rothschild Investment LLC acquired a new stake in Raymond James in the second quarter valued at $62,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. TD Cowen increased their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

Shares of RJF opened at $160.68 on Monday. Raymond James has a 12 month low of $102.42 and a 12 month high of $163.45. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a fifty day moving average price of $135.23 and a 200 day moving average price of $124.53. The company has a market cap of $33.09 billion, a P/E ratio of 16.55, a PEG ratio of 0.81 and a beta of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, research analysts forecast that Raymond James will post 10.83 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

About Raymond James

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.