Raymond James Financial, Inc. $RJF Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.8% during the first quarter, Holdings Channel reports. The firm owned 2,399,638 shares of the financial services provider’s stock after purchasing an additional 41,413 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Raymond James Financial were worth $347,390,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RJF. SEB Asset Management AB acquired a new position in shares of Raymond James Financial in the first quarter valued at approximately $5,514,000. Heartland Advisors Inc. lifted its holdings in Raymond James Financial by 72.8% during the 1st quarter. Heartland Advisors Inc. now owns 32,842 shares of the financial services provider’s stock worth $4,755,000 after buying an additional 13,841 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Raymond James Financial by 38.4% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,530 shares of the financial services provider’s stock worth $366,000 after buying an additional 702 shares in the last quarter. California Public Employees Retirement System boosted its position in Raymond James Financial by 2.7% in the 1st quarter. California Public Employees Retirement System now owns 347,745 shares of the financial services provider’s stock valued at $50,350,000 after buying an additional 9,242 shares during the period. Finally, Atlas Wealth LLC boosted its position in Raymond James Financial by 135.7% in the 1st quarter. Atlas Wealth LLC now owns 22,332 shares of the financial services provider’s stock valued at $3,233,000 after buying an additional 12,857 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several research reports. UBS Group restated a “neutral” rating and issued a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 9th. Barclays lifted their target price on Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $176.64.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $168.03 on Wednesday. The stock’s 50-day moving average is $156.19 and its two-hundred day moving average is $156.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The firm has a market cap of $32.75 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.07 and a beta of 0.93.

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

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is 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.