Raymond James Financial, Inc. $RJF Position Increased by Peterson Wealth Services

Peterson Wealth Services raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 81.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,930 shares of the financial services provider’s stock after buying an additional 27,313 shares during the period. Raymond James Financial comprises approximately 2.5% of Peterson Wealth Services’ investment portfolio, making the stock its 11th biggest position. Peterson Wealth Services’ holdings in Raymond James Financial were worth $9,785,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock worth $1,009,342,000 after buying an additional 230,871 shares in the last quarter. First Trust Advisors LP boosted its holdings in Raymond James Financial by 4.5% during the third quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock worth $448,332,000 after buying an additional 111,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Raymond James Financial by 10.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock worth $406,941,000 after buying an additional 227,337 shares in the last quarter. Norges Bank bought a new stake in Raymond James Financial during the fourth quarter worth approximately $324,263,000. Finally, Bank of New York Mellon Corp boosted its holdings in Raymond James Financial by 22.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock worth $192,987,000 after buying an additional 216,907 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Down 0.2%

Shares of NYSE:RJF opened at $150.33 on Friday. 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 company has a market cap of $29.30 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The firm has a 50 day simple moving average of $150.84 and a 200 day simple moving average of $156.55.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. UBS Group restated a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays restated an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. TD Cowen reduced their price target 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. Finally, Morgan Stanley upped their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target of $172.92.

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.