Morningstar Investment Management LLC Grows Stake in Raymond James Financial, Inc. $RJF

Morningstar Investment Management LLC grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 92.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,079 shares of the financial services provider’s stock after purchasing an additional 24,085 shares during the period. Morningstar Investment Management LLC’s holdings in Raymond James Financial were worth $7,251,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Great Valley Advisor Group Inc. grew its stake in 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 buying an additional 61 shares during the last quarter. Salomon & Ludwin LLC raised its stake 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 valued at $42,000 after buying an additional 65 shares during the last quarter. Bridgewater Advisors Inc. boosted its holdings 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 acquiring an additional 68 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of 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 worth $297,000 after acquiring an additional 71 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of 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 worth $358,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RJF. Barclays increased their price objective 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. TD Cowen cut their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $178.82.

Raymond James Financial Stock Up 1.9%

Raymond James Financial stock opened at $169.27 on Friday. The business’s 50-day moving average price is $156.99 and its 200 day moving average price is $156.61. 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 firm has a market cap of $32.99 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.06 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 issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. During the same quarter last year, the company earned $2.18 EPS. The business’s revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 18.83%.

Raymond James Financial News Summary

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.