Raymond James Financial, Inc. $RJF Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 29.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,280 shares of the financial services provider’s stock after purchasing an additional 42,312 shares during the quarter. Truist Financial Corp owned about 0.09% of Raymond James Financial worth $28,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its holdings in Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after acquiring an additional 197 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in Raymond James Financial in the 2nd quarter worth approximately $222,000. Swedbank AB grew its position in Raymond James Financial by 173.0% during the 2nd quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 20,022 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock worth $3,470,000 after buying an additional 3,035 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $166.51 on Friday. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market cap of $33.20 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.03. The business has a 50-day simple moving average of $168.07 and a 200-day simple moving average of $153.54.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company 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 posted $2.39 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.50 dividend. 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 payout ratio is currently 19.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RJF. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Citigroup reiterated a “neutral” rating and issued a $180.00 price target (up previously from $170.00) on shares of Raymond James Financial in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.70.

Raymond James Financial Company 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.