SG Americas Securities LLC Has $28.75 Million Position in Raymond James Financial, Inc. $RJF

SG Americas Securities LLC grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 64.1% during the 1st quarter, HoldingsChannel reports. The fund owned 198,547 shares of the financial services provider’s stock after acquiring an additional 77,536 shares during the period. SG Americas Securities LLC’s holdings in Raymond James Financial were worth $28,748,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Victory Capital Management Inc. grew its stake in Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Raymond James Financial by 10.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock valued at $406,941,000 after purchasing an additional 227,337 shares in the last quarter. Invesco Ltd. increased its position in Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Raymond James Financial during the 4th quarter worth about $324,263,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RJF shares. Morgan Stanley lifted their price target on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Barclays reaffirmed an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and an average target price of $172.92.

Raymond James Financial Stock Performance

NYSE:RJF opened at $157.31 on Wednesday. The firm has a market capitalization of $30.66 billion, a PE ratio of 14.87, a PEG ratio of 1.20 and a beta of 0.94. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $152.80 and its 200 day simple moving average is $156.58.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The business’s revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s payout ratio is currently 20.42%.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.