Bank of New York Mellon Corp Buys 39,030 Shares of Raymond James Financial, Inc. $RJF

Bank of New York Mellon Corp grew its stake in Raymond James Financial, Inc. (NYSE:RJF) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,240,769 shares of the financial services provider’s stock after acquiring an additional 39,030 shares during the quarter. Bank of New York Mellon Corp’s holdings in Raymond James Financial were worth $179,651,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its position in Raymond James Financial by 18.2% during the first quarter. Checchi Capital Advisers LLC now owns 2,760 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 424 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Raymond James Financial by 100.3% in the first quarter. Chicago Partners Investment Group LLC now owns 3,073 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,539 shares in the last quarter. Arbejdsmarkedets Tillaegspension raised its holdings in Raymond James Financial by 23.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 174,290 shares of the financial services provider’s stock worth $25,235,000 after purchasing an additional 33,267 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Raymond James Financial by 114.4% during the first quarter. Fifth Third Bancorp now owns 56,970 shares of the financial services provider’s stock valued at $8,249,000 after buying an additional 30,395 shares during the last quarter. Finally, Peterson Wealth Services lifted its position in shares of Raymond James Financial by 1.5% during the first quarter. Peterson Wealth Services now owns 61,861 shares of the financial services provider’s stock valued at $8,957,000 after buying an additional 931 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on RJF. Jefferies Financial Group lowered their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. BMO Capital Markets boosted their price objective on shares of 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. Barclays increased their target price on shares of Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. TD Cowen lowered their target price on shares of 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. Finally, Citizens Jmp lifted their price target on shares of Raymond James Financial from $190.00 to $200.00 and gave the stock a “market outperform” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and an average target price of $176.64.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $168.41 on Friday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a market cap of $32.82 billion, a PE ratio of 15.92, a P/E/G ratio of 1.07 and a beta of 0.93. 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 business has a 50-day simple moving average of $155.56 and a two-hundred day simple moving average of $156.41.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating 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 net margin of 13.04% and a return on equity of 17.93%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 earnings per share. As a group, equities analysts expect that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend 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 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.