Edgestream Partners L.P. Increases Stock Position in Raymond James Financial, Inc. $RJF

Edgestream Partners L.P. raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 47.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,166 shares of the financial services provider’s stock after purchasing an additional 7,762 shares during the period. Edgestream Partners L.P.’s holdings in Raymond James Financial were worth $3,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in RJF. Panagora Asset Management Inc. boosted its stake in Raymond James Financial by 5.5% during the second quarter. Panagora Asset Management Inc. now owns 278,372 shares of the financial services provider’s stock valued at $42,694,000 after buying an additional 14,580 shares during the last quarter. Lido Advisors LLC purchased a new stake in shares of Raymond James Financial during the 2nd quarter worth approximately $212,000. Stablepoint Partners LLC boosted its position in shares of Raymond James Financial by 2.6% during the 2nd quarter. Stablepoint Partners LLC now owns 13,035 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 329 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Raymond James Financial by 10.6% in the second quarter. Mackenzie Financial Corp now owns 31,159 shares of the financial services provider’s stock valued at $4,779,000 after purchasing an additional 2,982 shares in the last quarter. Finally, Virtus Investment Advisers LLC increased its position in Raymond James Financial by 21.8% in the second quarter. Virtus Investment Advisers LLC now owns 10,088 shares of the financial services provider’s stock worth $1,547,000 after purchasing an additional 1,803 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RJF. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. JMP Securities increased their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. BMO Capital Markets upped their price objective on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $158.86 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04. The firm has a market capitalization of $31.24 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The company’s 50-day moving average is $161.53 and its 200 day moving average is $160.24.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.54 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is currently 19.44%.

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.