ABLE Financial Group LLC Has $562,000 Stock Position in Raymond James Financial, Inc. $RJF

ABLE Financial Group LLC increased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 31.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,666 shares of the financial services provider’s stock after acquiring an additional 871 shares during the period. ABLE Financial Group LLC’s holdings in Raymond James Financial were worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after purchasing an additional 1,765,588 shares during the period. Nuveen LLC purchased a new position in Raymond James Financial during the first quarter valued at approximately $111,368,000. GAMMA Investing LLC increased its stake in Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock valued at $93,740,000 after buying an additional 672,164 shares during the period. Goldman Sachs Group Inc. increased its stake in Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock valued at $237,305,000 after buying an additional 525,134 shares during the period. Finally, Invesco Ltd. lifted its position in Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.1%

Shares of RJF stock opened at $174.15 on Monday. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $175.27. 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 firm has a market cap of $34.72 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.04. The stock has a 50 day moving average of $165.82 and a 200-day moving average of $151.74.

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

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Raymond James Financial’s payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $163.80.

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.