Elevation Point Wealth Partners LLC Purchases 5,904 Shares of Raymond James Financial, Inc. $RJF

Elevation Point Wealth Partners LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 44.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,243 shares of the financial services provider’s stock after buying an additional 5,904 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Raymond James Financial were worth $2,786,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Reflection Asset Management bought a new stake in Raymond James Financial during the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial in the 4th quarter worth about $32,000. Harbor Investment Advisory LLC lifted its stake in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial in the 4th quarter valued at about $35,000. Finally, DV Equities LLC bought a new stake in shares of Raymond James Financial during the 4th quarter valued at about $40,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF opened at $162.57 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The stock has a 50-day moving average of $153.14 and a 200-day moving average of $156.13. The company has a market cap of $31.68 billion, a PE ratio of 15.37, a P/E/G ratio of 1.25 and a beta of 0.93. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $2.42 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Barclays reissued an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. TD Cowen lowered their price objective 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, Morgan Stanley boosted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial presently has an average rating of “Hold” and an average price target of $172.92.

Raymond James Financial Company 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.