Raymond James Financial, Inc. $RJF Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 18.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,524 shares of the financial services provider’s stock after acquiring an additional 854 shares during the quarter. Belpointe Asset Management LLC’s holdings in Raymond James Financial were worth $767,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC raised its holdings in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial during the first quarter valued at approximately $33,000. Finally, TCTC Holdings LLC raised its holdings in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Finally, JMP Securities increased their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $163.80.

Raymond James Financial Price Performance

RJF stock opened at $170.22 on Friday. Raymond James Financial, Inc. has a 52-week low of $116.89 and a 52-week high of $174.32. The business has a fifty day moving average of $164.55 and a two-hundred day moving average of $150.93. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 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.