Wealthfront Advisers LLC Has $1.92 Million Stock Position in Raymond James Financial, Inc. $RJF

Wealthfront Advisers LLC boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 46.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,540 shares of the financial services provider’s stock after purchasing an additional 3,991 shares during the period. Wealthfront Advisers LLC’s holdings in Raymond James Financial were worth $1,923,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC raised its stake in shares of Raymond James Financial by 0.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock worth $1,170,000 after purchasing an additional 68 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Raymond James Financial by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after buying an additional 73 shares during the last quarter. EP Wealth Advisors LLC raised its position in Raymond James Financial by 5.5% during the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 78 shares in the last quarter. Tectonic Advisors LLC raised its position in Raymond James Financial by 2.6% during the second quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 80 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its stake in Raymond James Financial by 4.1% in the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Down 0.3%

Shares of NYSE:RJF opened at $157.83 on Friday. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The stock has a market cap of $31.47 billion, a PE ratio of 15.34, a P/E/G ratio of 1.19 and a beta of 1.03. The business has a 50 day moving average of $167.04 and a 200-day moving average of $157.25. 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 (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 earnings per share. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. BMO Capital Markets lifted their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. JMP Securities upped their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods raised their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Finally, TD Cowen boosted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $177.20.

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.