Stance Capital LLC Acquires Shares of 16,355 Raymond James Financial, Inc. $RJF

Stance Capital LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,355 shares of the financial services provider’s stock, valued at approximately $2,508,000. Raymond James Financial makes up about 0.9% of Stance Capital LLC’s holdings, making the stock its 17th biggest holding.

Several other institutional investors also recently bought and sold shares of RJF. Public Sector Pension Investment Board grew its position in shares of Raymond James Financial by 3.8% during the first quarter. Public Sector Pension Investment Board now owns 49,295 shares of the financial services provider’s stock valued at $6,848,000 after purchasing an additional 1,788 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Raymond James Financial by 2.8% during the 1st quarter. Russell Investments Group Ltd. now owns 153,556 shares of the financial services provider’s stock valued at $21,332,000 after buying an additional 4,128 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Raymond James Financial by 31.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 39,440 shares of the financial services provider’s stock worth $5,479,000 after acquiring an additional 9,494 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Raymond James Financial by 117.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 12,299 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 6,641 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Raymond James Financial by 4.5% during the 1st quarter. Horizon Investments LLC now owns 2,646 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 113 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. JMP Securities increased 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 report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus price target of $180.45.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $163.84 on Friday. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $160.60 and a 200-day moving average price of $161.00. The firm has a market capitalization of $32.22 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.54 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio is currently 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.