North Reef Capital Management LP Purchases New Position in Raymond James Financial, Inc. $RJF

North Reef Capital Management LP purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 1st quarter, Holdings Channel.com reports. The firm purchased 159,162 shares of the financial services provider’s stock, valued at approximately $23,045,000. Raymond James Financial makes up approximately 0.8% of North Reef Capital Management LP’s investment portfolio, making the stock its 28th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. raised its holdings in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares in the last quarter. Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Raymond James Financial by 1.3% in the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares during the last quarter. Parallel Advisors LLC raised its stake in Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 71 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in Raymond James Financial by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 1.9%

Shares of RJF opened at $169.27 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $156.99 and a 200 day moving average of $156.61. The company has a market cap of $32.99 billion, a PE ratio of 14.76, a P/E/G ratio of 1.08 and a beta of 0.93. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business posted $2.18 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 12.01 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RJF. Morgan Stanley lifted their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Barclays upped their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a report on Wednesday, July 8th. Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average target price of $178.82.

More Raymond James Financial News

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

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.