Massachusetts Financial Services Co. MA Acquires 71,495 Shares of Raymond James Financial, Inc. $RJF

Massachusetts Financial Services Co. MA raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,406,749 shares of the financial services provider’s stock after buying an additional 71,495 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Raymond James Financial were worth $369,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Investment Advisors LLC boosted its holdings in Raymond James Financial by 0.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock worth $1,170,000 after acquiring an additional 68 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Raymond James Financial by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 73 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Raymond James Financial by 5.5% during the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 78 shares during the last quarter. Tectonic Advisors LLC grew its position in Raymond James Financial by 2.6% in the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 80 shares in the last quarter. Finally, Cigna Investments Inc. New increased its stake in Raymond James Financial by 4.1% in the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock valued at $284,000 after buying an additional 81 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on RJF shares. TD Cowen increased their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Finally, Morgan Stanley increased their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Stock Down 1.6%

Raymond James Financial stock opened at $158.67 on Friday. The firm has a 50 day simple moving average of $165.51 and a 200 day simple moving average of $159.38. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.19 and a beta of 1.05.

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

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s 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.