Raymond James Financial, Inc. $RJF Position Lifted by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 29.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,097 shares of the financial services provider’s stock after purchasing an additional 932 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Raymond James Financial were worth $628,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of Raymond James Financial by 1,502.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after buying an additional 1,765,588 shares during the last quarter. Nuveen LLC bought a new stake in Raymond James Financial during the 1st quarter valued at $111,368,000. Goldman Sachs Group Inc. lifted its holdings in Raymond James Financial by 44.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock worth $237,305,000 after purchasing an additional 525,134 shares during the period. Invesco Ltd. lifted its stake in shares of Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after acquiring an additional 466,129 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Raymond James Financial by 165.9% during the first quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider’s stock valued at $95,381,000 after buying an additional 428,396 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 1.3%

Shares of RJF opened at $162.92 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a 50-day simple moving average of $166.11 and a 200-day simple moving average of $158.67. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The firm has a market capitalization of $32.48 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s payout ratio is 19.44%.

Analysts Set New Price Targets

RJF has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. JMP Securities lifted their price target on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $177.20.

Raymond James Financial Company 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.