QRG Capital Management Inc. Raises Stock Position in Raymond James Financial, Inc. $RJF

QRG Capital Management Inc. lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 535.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,053 shares of the financial services provider’s stock after purchasing an additional 29,541 shares during the quarter. QRG Capital Management Inc.’s holdings in Raymond James Financial were worth $5,075,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Great Valley Advisor Group Inc. increased 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 period. Salomon & Ludwin LLC grew its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of 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 acquiring an additional 68 shares during the period. Bridgewater Advisors Inc. increased its position in shares of Raymond James Financial by 1.3% during 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 during the period. Finally, Parallel Advisors LLC raised its stake in shares of 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 acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Morgan Stanley boosted their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. 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. Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, UBS Group reissued a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Stock Down 0.1%

Shares of NYSE RJF opened at $162.57 on Monday. The business has a 50-day moving average of $153.14 and a two-hundred day moving average of $156.08. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

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. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 20.42%.

About Raymond James Financial

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.