Voya Investment Management LLC Buys 2,738 Shares of Raymond James Financial, Inc. $RJF

Voya Investment Management LLC increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,481 shares of the financial services provider’s stock after buying an additional 2,738 shares during the period. Voya Investment Management LLC’s holdings in Raymond James Financial were worth $7,846,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after acquiring an additional 1,765,588 shares during the period. Nuveen LLC acquired a new stake in Raymond James Financial in the 1st quarter valued at $111,368,000. GAMMA Investing LLC increased its stake in Raymond James Financial by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock valued at $93,740,000 after purchasing an additional 672,164 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Raymond James Financial by 44.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock worth $237,305,000 after buying an additional 525,134 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after buying an additional 466,129 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RJF shares. Morgan Stanley boosted their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective 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. JMP Securities raised their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $163.80.

Raymond James Financial Stock Up 0.6%

RJF stock opened at $170.10 on Thursday. The stock has a market cap of $33.91 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.39 and a beta of 1.04. 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’s fifty day simple moving average is $165.23 and its two-hundred day simple moving average is $151.27. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.39 earnings per share. Analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 19.61%.

About Raymond James Financial

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.