Elevation Point Wealth Partners LLC Buys 5,904 Shares of Raymond James Financial, Inc. $RJF

Elevation Point Wealth Partners LLC increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 44.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,243 shares of the financial services provider’s stock after purchasing an additional 5,904 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Raymond James Financial were worth $2,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RJF. Great Valley Advisor Group Inc. grew its stake in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Raymond James Financial by 2.5% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock valued at $447,000 after acquiring an additional 68 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Raymond James Financial by 4.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley increased their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group reduced their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. TD Cowen lowered their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. UBS Group reiterated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Stock Performance

NYSE RJF opened at $162.57 on Friday. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.25 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The stock has a fifty day simple moving average of $153.14 and a 200 day simple moving average of $156.13.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The business 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s payout ratio is currently 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.