Dimensional Fund Advisors LP Boosts Holdings in Raymond James Financial, Inc. $RJF

Dimensional Fund Advisors LP lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,399,638 shares of the financial services provider’s stock after purchasing an additional 41,413 shares during the period. Dimensional Fund Advisors LP owned about 1.22% of Raymond James Financial worth $347,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC raised its position in shares of Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares during the last quarter. Algebris UK Ltd. purchased a new position in shares of Raymond James Financial in the fourth quarter worth about $10,179,000. Fisher Asset Management LLC boosted its position in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Raymond James Financial by 7.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after acquiring an additional 7,202 shares during the last quarter. Finally, Swedbank AB grew its stake in Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 9,838 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $168.03 on Wednesday. The firm’s 50 day moving average price is $156.19 and its 200-day moving average price is $156.45. 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 one year low of $138.82 and a one year high of $177.66. The firm has a market cap of $32.75 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.07 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 predict that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on RJF. Citizens Jmp increased their price objective on shares of Raymond James Financial from $190.00 to $200.00 and gave the company a “market outperform” rating in a report on Thursday, July 9th. Morgan Stanley increased their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 9th. Barclays raised their target price on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, TD Cowen lowered their price target 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. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $176.64.

Raymond James Financial 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.