Princeton Global Asset Management LLC increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 69.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 245 shares of the financial services provider’s stock after buying an additional 100 shares during the period. Princeton Global Asset Management LLC’s holdings in Raymond James Financial were worth $38,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in RJF. GAMMA Investing LLC increased its stake in shares of Raymond James Financial by 82.6% during the first quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider’s stock valued at $675,000 after buying an additional 2,197 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Raymond James Financial by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,003 shares of the financial services provider’s stock valued at $6,112,000 after buying an additional 1,375 shares during the period. Kentucky Retirement Systems increased its stake in shares of Raymond James Financial by 8.6% during the first quarter. Kentucky Retirement Systems now owns 13,835 shares of the financial services provider’s stock valued at $1,922,000 after buying an additional 1,098 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Raymond James Financial during the first quarter valued at $819,000. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Raymond James Financial during the first quarter valued at $907,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.
Raymond James Financial Price Performance
Shares of NYSE RJF opened at $165.96 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market cap of $33.09 billion, a PE ratio of 16.27, a P/E/G ratio of 1.26 and a beta of 1.03. The business has a 50-day simple moving average of $167.33 and a two-hundred day simple moving average of $155.75. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66.
Raymond James Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Morgan Stanley raised their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. JMP Securities lifted their target price on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets started coverage on Raymond James Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $172.20.
View Our Latest Stock Report on Raymond James Financial
Raymond James Financial Profile
Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.
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