Raymond James Financial, Inc. $RJF Shares Purchased by Heartland Advisors Inc.

Heartland Advisors Inc. raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 72.8% during the first quarter, Holdings Channel reports. The firm owned 32,842 shares of the financial services provider’s stock after buying an additional 13,841 shares during the quarter. Heartland Advisors Inc.’s holdings in Raymond James Financial were worth $4,755,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RJF. Empowered Funds LLC raised its holdings in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after buying an additional 314 shares during the period. Woodline Partners LP boosted its holdings in Raymond James Financial by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 4,592 shares during the period. EverSource Wealth Advisors LLC grew its position in Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 685 shares in the last quarter. Brown Advisory Inc. increased its stake in Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in Raymond James Financial during the second quarter worth about $363,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.0%

Shares of NYSE RJF opened at $168.41 on Monday. The company has a market capitalization of $32.82 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The business has a 50-day moving average of $155.56 and a two-hundred day moving average of $156.36. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66.

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

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Analysts Set New Price Targets

RJF has been the topic of several research reports. UBS Group reissued a “neutral” rating and issued a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. TD Cowen cut their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. BMO Capital Markets increased their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 9th. Finally, Barclays boosted their price target on shares of Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.