Kestra Advisory Services LLC Purchases 4,577 Shares of Raymond James Financial, Inc. $RJF

Kestra Advisory Services LLC boosted its position in Raymond James Financial, Inc. (NYSE:RJF) by 18.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,934 shares of the financial services provider’s stock after buying an additional 4,577 shares during the period. Kestra Advisory Services LLC’s holdings in Raymond James Financial were worth $4,334,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RJF. Great Valley Advisor Group Inc. lifted its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares during the period. Salomon & Ludwin LLC grew its stake in Raymond James Financial by 34.8% during 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 period. Legacy Wealth Asset Management LLC grew its stake in Raymond James Financial by 2.5% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 68 shares during the period. Bridgewater Advisors Inc. increased 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 purchasing an additional 68 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Raymond James Financial by 4.3% in the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Trading Down 0.4%

NYSE RJF opened at $169.56 on Friday. The firm has a market capitalization of $33.04 billion, a P/E ratio of 16.03, a PEG ratio of 1.09 and a beta of 0.93. The business has a fifty day simple moving average of $155.28 and a 200 day simple moving average of $156.33. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $2.42 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is 20.42%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RJF. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, July 9th. UBS Group reiterated a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Jefferies Financial Group cut their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Citizens Jmp raised their price target on shares of Raymond James Financial from $190.00 to $200.00 and gave the stock a “market outperform” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.64.

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.