EP Wealth Advisors LLC Buys 78 Shares of Raymond James Financial, Inc. $RJF

EP Wealth Advisors LLC grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,506 shares of the financial services provider’s stock after acquiring an additional 78 shares during the quarter. EP Wealth Advisors LLC’s holdings in Raymond James Financial were worth $209,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Formidable Asset Management LLC raised its stake in Raymond James Financial by 0.9% in the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock valued at $1,227,000 after purchasing an additional 67 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Raymond James Financial by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock valued at $461,000 after buying an additional 73 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 81 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 82 shares during the period. Finally, Dynasty Wealth Management LLC boosted its position in shares of Raymond James Financial by 4.9% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $163.80.

Raymond James Financial Stock Performance

NYSE:RJF opened at $165.62 on Wednesday. The stock’s 50-day moving average is $163.95 and its 200-day moving average is $150.55. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a market cap of $33.02 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 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, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Raymond James Financial Company 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.