Resona Asset Management Co. Ltd. Acquires 3,021 Shares of Raymond James Financial, Inc. $RJF

Resona Asset Management Co. Ltd. boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 4.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 65,741 shares of the financial services provider’s stock after acquiring an additional 3,021 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Raymond James Financial were worth $10,081,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in shares of Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock worth $261,587,000 after acquiring an additional 1,765,588 shares during the period. Nuveen LLC purchased a new stake in Raymond James Financial in the first quarter worth approximately $111,368,000. Goldman Sachs Group Inc. grew its position in Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock worth $237,305,000 after purchasing an additional 525,134 shares during the period. Invesco Ltd. raised its stake 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 buying an additional 466,129 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Raymond James Financial by 165.9% during the 1st quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider’s stock valued at $95,381,000 after buying an additional 428,396 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RJF. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. JMP Securities upped 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. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. TD Cowen boosted their target price 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. Finally, BMO Capital Markets upped 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $162.92 on Friday. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.19 and a beta of 1.05. The firm has a fifty day moving average price of $166.11 and a 200 day moving average price of $158.51. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. 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 quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 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.