Bank of New York Mellon Corp Raises Stock Holdings in Raymond James Financial, Inc. $RJF

Bank of New York Mellon Corp increased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,240,769 shares of the financial services provider’s stock after acquiring an additional 39,030 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Raymond James Financial worth $179,651,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RJF. First Trust Advisors LP grew its position in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares during the last quarter. Victory Capital Management Inc. increased its stake in Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after purchasing an additional 21,856 shares during the period. Invesco Ltd. lifted its position in shares of Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Norges Bank bought a new stake in shares of Raymond James Financial during the fourth quarter worth $324,263,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Raymond James Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,097,112 shares of the financial services provider’s stock valued at $176,185,000 after purchasing an additional 8,575 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 9th. Morgan Stanley raised their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Barclays lifted their price target on shares of Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp boosted their price target on Raymond James Financial from $190.00 to $200.00 and gave the company a “market outperform” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $176.64.

Raymond James Financial Stock Down 0.8%

NYSE:RJF opened at $168.41 on Friday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a 50-day moving average of $155.56 and a 200 day moving average of $156.41. The firm has a market cap of $32.82 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.