Campbell & CO Investment Adviser LLC bought a new stake in shares of Raymond James (NYSE:RJF) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 5,906 shares of the financial services provider’s stock, valued at approximately $430,000.
Several other large investors also recently made changes to their positions in RJF. M&T Bank Corp raised its holdings in shares of Raymond James by 2.7% during the 1st quarter. M&T Bank Corp now owns 6,456 shares of the financial services provider’s stock valued at $408,000 after buying an additional 171 shares during the period. Alliancebernstein L.P. increased its holdings in Raymond James by 1.7% during the 1st quarter. Alliancebernstein L.P. now owns 197,810 shares of the financial services provider’s stock worth $12,502,000 after purchasing an additional 3,326 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Raymond James by 27.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,794 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 3,394 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Raymond James during the 1st quarter worth approximately $1,605,000. Finally, Maverick Capital Ltd. purchased a new stake in Raymond James during the 1st quarter worth approximately $942,000. Institutional investors and hedge funds own 77.31% of the company’s stock.
RJF has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Raymond James from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. TheStreet upgraded Raymond James from a “c+” rating to a “b-” rating in a report on Friday, September 4th. Compass Point lifted their price objective on Raymond James from $65.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, September 16th. Wells Fargo & Company lifted their price objective on Raymond James from $61.00 to $63.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Credit Suisse Group boosted their price target on Raymond James from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.29.
Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.26. Raymond James had a return on equity of 13.04% and a net margin of 10.75%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.37 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 1.86%. Raymond James’s dividend payout ratio is currently 20.00%.
Raymond James 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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