Sciencast Management LP Buys Shares of 11,437 Raymond James Financial, Inc. $RJF

Sciencast Management LP bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,437 shares of the financial services provider’s stock, valued at approximately $1,589,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the 1st quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its position in Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after buying an additional 123 shares during the period. Olde Wealth Management LLC purchased a new position in Raymond James Financial during the first quarter worth about $33,000. Finally, TCTC Holdings LLC lifted its position in Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after buying an additional 121 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $165.81 on Tuesday. The company’s fifty day simple moving average is $163.73 and its 200-day simple moving average is $150.44. Raymond James Financial, Inc. has a 52 week low of $113.91 and a 52 week high of $174.32. 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 company has a market cap of $33.06 billion, a PE ratio of 16.26, a P/E/G ratio of 1.36 and a beta of 1.04.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS 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 analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 EPS. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s payout ratio is 19.61%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RJF shares. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Monday, July 14th. Morgan Stanley increased their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. JMP Securities increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. 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 research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $163.80.

Raymond James Financial Profile

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.