Envestnet Asset Management Inc. Buys 42,473 Shares of Raymond James Financial, Inc. $RJF

Envestnet Asset Management Inc. raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,265 shares of the financial services provider’s stock after acquiring an additional 42,473 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Raymond James Financial were worth $100,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Raymond James Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after acquiring an additional 347,916 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Raymond James Financial by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after acquiring an additional 29,086 shares during the period. Invesco Ltd. raised its holdings in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after acquiring an additional 466,129 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock valued at $324,390,000 after acquiring an additional 178,262 shares during the period. Finally, Northern Trust Corp raised its holdings in Raymond James Financial by 6.7% during the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock valued at $312,259,000 after acquiring an additional 140,704 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RJF shares. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. JMP Securities boosted their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Morgan Stanley boosted their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Stock Down 1.1%

Shares of NYSE:RJF opened at $157.95 on Thursday. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a fifty day moving average of $167.12 and a 200 day moving average of $157.25. The firm has a market capitalization of $31.49 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.50 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is 19.44%.

Raymond James Financial 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.