Morningstar Investment Management LLC Takes Position in Raymond James Financial, Inc. $RJF

Morningstar Investment Management LLC bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,912 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Farther Finance Advisors LLC raised its position in Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC raised its position in Raymond James Financial by 82.6% in the first quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 2,197 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Raymond James Financial by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,003 shares of the financial services provider’s stock valued at $6,112,000 after purchasing an additional 1,375 shares during the period. Dynamic Advisor Solutions LLC raised its position in Raymond James Financial by 12.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,057 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 229 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Raymond James Financial by 120.7% in the first quarter. Exchange Traded Concepts LLC now owns 4,213 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 2,304 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RJF. BMO Capital Markets started coverage on Raymond James Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price for the company. Morgan Stanley lifted their price objective on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. JMP Securities upped their target price on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

NYSE RJF opened at $162.58 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a market capitalization of $32.42 billion, a PE ratio of 15.94, a P/E/G ratio of 1.22 and a beta of 1.03. The company has a fifty day moving average of $167.57 and a two-hundred day moving average of $154.75.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the company earned $2.39 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. 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 dividend payout ratio is 19.61%.

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.