Versor Investments LP Invests $380,000 in Raymond James Financial, Inc. $RJF

Versor Investments LP purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,476 shares of the financial services provider’s stock, valued at approximately $380,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 worth $3,089,942,000 after purchasing an additional 347,916 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of 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 worth $574,590,000 after purchasing an additional 29,086 shares in the last quarter. Invesco Ltd. raised its stake in shares of 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 worth $403,038,000 after purchasing an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 worth $324,390,000 after purchasing an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 worth $312,259,000 after purchasing an additional 140,704 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. 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. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Finally, BMO Capital Markets raised 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 research note on Thursday, October 23rd. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Stock Performance

RJF opened at $159.43 on Thursday. The firm has a market capitalization of $31.79 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The stock’s 50 day moving average price is $166.40 and its two-hundred day moving average price is $158.10. 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 released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The firm 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 company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current 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 issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) 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.