Raymond James Financial, Inc. $RJF Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,363 shares of the financial services provider’s stock after buying an additional 1,384 shares during the period. Assenagon Asset Management S.A.’s holdings in Raymond James Financial were worth $4,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $27,000. Golden State Wealth Management LLC grew its holdings 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 valued at $28,000 after purchasing an additional 123 shares during the period. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $33,000. Finally, TCTC Holdings LLC grew its holdings 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 valued at $40,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Down 2.1%

NYSE RJF opened at $172.12 on Thursday. The firm has a 50 day simple moving average of $166.85 and a 200-day simple moving average of $152.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The firm has a market cap of $34.32 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.44 and a beta of 1.04.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data 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 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 period in the previous year, the business posted $2.39 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 19.61%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RJF. Citigroup reissued a “neutral” rating and issued a $180.00 price objective (up previously from $170.00) on shares of Raymond James Financial in a report on Monday. Wells Fargo & Company increased 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 research note on Friday, July 11th. Morgan Stanley lifted 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 research report on Tuesday, July 15th. JMP Securities upped their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.30.

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.