Brighton Jones LLC Buys 169 Shares of Raymond James Financial, Inc. $RJF

Brighton Jones LLC raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 5.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,031 shares of the financial services provider’s stock after purchasing an additional 169 shares during the quarter. Brighton Jones LLC’s holdings in Raymond James Financial were worth $465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Raymond James Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after purchasing an additional 347,916 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Raymond James Financial by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after purchasing an additional 29,086 shares during the last quarter. Invesco Ltd. lifted its position in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after purchasing an additional 466,129 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Raymond James Financial by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock valued at $324,390,000 after purchasing an additional 178,262 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Raymond James Financial by 6.7% in the first quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock valued at $312,259,000 after purchasing an additional 140,704 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RJF. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. JMP Securities boosted their target price on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, BMO Capital Markets boosted their target price on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Price Performance

Shares of RJF stock opened at $157.95 on Thursday. The stock has a market cap of $31.49 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.20 and a beta of 1.03. The business’s fifty day moving average is $167.12 and its 200 day moving average is $157.25. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 earnings per share. Research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is presently 19.44%.

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.