Strs Ohio Invests $1.84 Million in Raymond James Financial, Inc. $RJF

Strs Ohio purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,256 shares of the financial services provider’s stock, valued at approximately $1,841,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the first quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial in the first quarter worth about $27,000. Golden State Wealth Management LLC raised its stake in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of Raymond James Financial in the first quarter worth about $33,000. Finally, TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $169.10 on Wednesday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $174.32. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 1.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The business’s 50 day moving average price is $165.00 and its 200 day moving average price is $151.14.

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 analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $2.39 EPS. Raymond James Financial’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 19.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research note on Monday, July 14th. Morgan Stanley raised their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $163.80.

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.