BNP Paribas Arbitrage SA boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 45.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,452 shares of the financial services provider’s stock after purchasing an additional 36,967 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.08% of Raymond James Financial worth $9,905,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of RJF. Fox Run Management L.L.C. acquired a new stake in Raymond James Financial in the 2nd quarter valued at $225,000. Gateway Investment Advisers LLC grew its position in Raymond James Financial by 3.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 10,309 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 362 shares during the period. Creative Planning grew its position in Raymond James Financial by 30.3% in the 2nd quarter. Creative Planning now owns 4,391 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 1,022 shares during the period. State of Alaska Department of Revenue grew its position in Raymond James Financial by 71.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,269 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 3,030 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its position in Raymond James Financial by 514.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 20,954 shares of the financial services provider’s stock valued at $1,681,000 after purchasing an additional 17,546 shares during the period. 69.03% of the stock is owned by institutional investors and hedge funds.
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Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.15. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.67 billion. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.97%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. sell-side analysts forecast that Raymond James Financial, Inc. will post 5.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, September 29th. Raymond James Financial’s dividend payout ratio is 20.32%.
Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, August 29th. Buckingham Research lifted their price target on shares of Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Wells Fargo & Company raised shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $89.67.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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