Vest Financial LLC Has $44.83 Million Stock Position in Raymond James Financial, Inc. $RJF

Vest Financial LLC boosted its position in Raymond James Financial, Inc. (NYSE:RJF) by 39.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 292,266 shares of the financial services provider’s stock after purchasing an additional 82,695 shares during the period. Vest Financial LLC owned about 0.14% of Raymond James Financial worth $44,825,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RJF. Alpine Bank Wealth Management bought a new position in Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC raised its holdings in Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 123 shares during the period. Olde Wealth Management LLC bought a new position in Raymond James Financial in the 1st quarter valued at about $33,000. TCTC Holdings LLC raised its holdings in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 121 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 255 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

NYSE RJF opened at $160.36 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.22 and a beta of 1.03. The firm’s 50 day simple moving average is $167.78 and its 200 day simple moving average is $154.55. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.39 EPS. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Wall Street Analyst Weigh In

RJF has been the topic of several research analyst reports. JMP Securities increased their price target on shares of Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday. Morgan Stanley increased their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. BMO Capital Markets assumed coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $172.20.

About Raymond James Financial

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.