Wealth Enhancement Advisory Services LLC Has $7.24 Million Stake in Raymond James Financial, Inc. $RJF

Wealth Enhancement Advisory Services LLC increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 2.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 45,222 shares of the financial services provider’s stock after purchasing an additional 1,219 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Raymond James Financial were worth $7,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock worth $3,089,942,000 after buying an additional 347,916 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Raymond James Financial by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock worth $574,590,000 after buying an additional 29,086 shares in the last quarter. Invesco Ltd. lifted its position in Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Raymond James Financial by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock worth $324,390,000 after buying an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Raymond James Financial by 6.7% in the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock worth $312,259,000 after buying an additional 140,704 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

NYSE RJF opened at $175.85 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The company’s fifty day moving average is $166.53 and its two-hundred day moving average is $152.13. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a market capitalization of $35.06 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.44 and a beta of 1.04.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $2.39 earnings per share. Raymond James Financial’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast 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. Stockholders 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 dividend yield of 1.1%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s payout ratio is 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RJF shares. 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 research report on Thursday, July 24th. Morgan Stanley raised their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. JMP Securities raised their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $180.00 target price (up previously from $170.00) on shares of Raymond James Financial in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $165.30.

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.