Ancora Advisors LLC Acquires 4,299 Shares of Raymond James Financial, Inc. $RJF

Ancora Advisors LLC boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,423 shares of the financial services provider’s stock after purchasing an additional 4,299 shares during the period. Ancora Advisors LLC’s holdings in Raymond James Financial were worth $6,032,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the first quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in Raymond James Financial in the first quarter worth $27,000. Golden State Wealth Management LLC lifted its stake in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new stake in Raymond James Financial in the first quarter worth $33,000. Finally, TCTC Holdings LLC lifted its stake in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Morgan Stanley upped their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, JMP Securities upped their price objective on shares of 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. One research 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 stock. Based on data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus target price of $163.80.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $166.52 on Thursday. Raymond James Financial, Inc. has a 1 year low of $113.91 and a 1 year high of $174.32. The stock has a market capitalization of $33.20 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.04. The company’s 50-day moving average is $162.87 and its 200 day moving average is $150.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company earned $2.39 earnings per share. Raymond James Financial’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is presently 19.61%.

About Raymond James Financial

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.