Assenagon Asset Management S.A. Raises Stock Holdings in Raymond James Financial, Inc. $RJF

Assenagon Asset Management S.A. increased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 13.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,036 shares of the financial services provider’s stock after acquiring an additional 3,669 shares during the period. Assenagon Asset Management S.A.’s holdings in Raymond James Financial were worth $4,349,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Reflection Asset Management bought a new position in Raymond James Financial in the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the fourth quarter worth $32,000. Harbor Investment Advisory LLC boosted its stake in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at $35,000. Finally, DV Equities LLC bought a new position in shares of Raymond James Financial in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RJF. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley upped their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. TD Cowen reduced their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. BMO Capital Markets lifted their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Finally, UBS Group reiterated a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Trading Down 0.6%

NYSE RJF opened at $148.99 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The company has a market capitalization of $29.03 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. The company’s 50-day simple moving average is $152.68 and its two-hundred day simple moving average is $156.23. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s payout ratio is 20.42%.

About Raymond James Financial

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.