Kestra Advisory Services LLC Acquires 4,577 Shares of Raymond James Financial, Inc. $RJF

Kestra Advisory Services LLC boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,934 shares of the financial services provider’s stock after purchasing an additional 4,577 shares during the period. Kestra Advisory Services LLC’s holdings in Raymond James Financial were worth $4,334,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Reflection Asset Management purchased a new position in shares of Raymond James Financial in the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the fourth quarter worth about $32,000. Harbor Investment Advisory LLC raised its position in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 172 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial in the fourth quarter valued at about $35,000. Finally, Steigerwald Gordon & Koch Inc. grew its position in shares of Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 228 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

NYSE RJF opened at $169.56 on Friday. The firm has a market cap of $33.04 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $155.28 and its 200-day moving average is $156.33. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping 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 company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $2.42 EPS. Raymond James Financial’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced 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 was Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is currently 20.42%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RJF shares. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Morgan Stanley increased their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. TD Cowen decreased their target price on 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. Barclays raised their target price on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets upped their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. 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 has an average rating of “Hold” and an average price target of $176.64.

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.