Raymond James Financial, Inc. $RJF Shares Bought by Heartland Advisors Inc.

Heartland Advisors Inc. raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 72.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,842 shares of the financial services provider’s stock after buying an additional 13,841 shares during the quarter. Heartland Advisors Inc.’s holdings in Raymond James Financial were worth $4,755,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Kingsview Wealth Management LLC lifted its stake in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares in the last quarter. Algebris UK Ltd. purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $10,179,000. Fisher Asset Management LLC increased its holdings in shares of Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after purchasing an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after purchasing an additional 7,202 shares during the last quarter. Finally, Swedbank AB lifted its position in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after buying an additional 9,838 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Trading Up 0.0%

Shares of Raymond James Financial stock opened at $168.41 on Monday. The firm has a market capitalization of $32.82 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.07 and a beta of 0.93. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The stock has a 50 day moving average of $155.56 and a 200 day moving average of $156.36.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RJF shares. BMO Capital Markets upped their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Citizens Jmp lifted their price target on Raymond James Financial from $190.00 to $200.00 and gave the stock a “market outperform” rating in a report on Thursday, July 9th. Jefferies Financial Group lowered their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday, July 9th. Finally, TD Cowen cut their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.64.

Raymond James Financial Company 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.