Raymond James Financial, Inc. $RJF Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 535.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,053 shares of the financial services provider’s stock after buying an additional 29,541 shares during the quarter. QRG Capital Management Inc.’s holdings in Raymond James Financial were worth $5,075,000 at the end of the most recent reporting period.

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

Raymond James Financial Price Performance

Raymond James Financial stock opened at $162.57 on Monday. The company’s 50 day simple moving average is $153.14 and its 200-day simple moving average is $156.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 1.3%. Raymond James Financial’s payout ratio is presently 20.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RJF. TD Cowen cut their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Jefferies Financial Group cut their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $172.92.

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.