Peterson Wealth Services Purchases 735 Shares of Raymond James Financial, Inc. $RJF

Peterson Wealth Services raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 61,333 shares of the financial services provider’s stock after acquiring an additional 735 shares during the period. Raymond James Financial makes up 2.6% of Peterson Wealth Services’ investment portfolio, making the stock its 11th largest position. Peterson Wealth Services’ holdings in Raymond James Financial were worth $9,407,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RJF. Alpine Bank Wealth Management bought a new position in Raymond James Financial in the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 123 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Raymond James Financial in the first quarter valued at $33,000. Princeton Global Asset Management LLC raised its stake in shares of Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares during the period. Finally, TCTC Holdings LLC boosted its stake in Raymond James Financial by 72.9% in the 1st 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 period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RJF. BMO Capital Markets boosted their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday. TD Cowen upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Finally, Morgan Stanley upped their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Stock Performance

NYSE RJF opened at $162.25 on Friday. The firm has a market cap of $32.35 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.26 and a beta of 1.03. The company has a 50-day simple moving average of $167.36 and a two-hundred day simple moving average of $156.36. 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, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the business posted $2.95 EPS. Raymond James Financial’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is currently 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.