29,341 Shares in Raymond James Financial, Inc. $RJF Acquired by Access Investment Management LLC

Access Investment Management LLC acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,341 shares of the financial services provider’s stock, valued at approximately $4,500,000. Raymond James Financial makes up 1.3% of Access Investment Management LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Capital Investment Advisors LLC lifted its position in Raymond James Financial by 0.9% in the second 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 during the period. Venturi Wealth Management LLC grew 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 acquiring an additional 73 shares during the period. EP Wealth Advisors LLC raised its position in Raymond James Financial by 5.5% in 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 lifted its holdings in Raymond James Financial by 2.6% in the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 80 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its position in shares of Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 81 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. JMP Securities upped their price objective on shares of 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. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, TD Cowen upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating 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 given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Price Performance

RJF opened at $158.71 on Monday. The stock has a fifty day moving average price of $166.91 and a 200 day moving average price of $157.74. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The stock has a market cap of $31.64 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.19 and a beta of 1.03.

Raymond James Financial (NYSE:RJF) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.95 EPS. Analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

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

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.