OP Asset Management Ltd Invests $4.74 Million in Raymond James Financial, Inc. $RJF

OP Asset Management Ltd purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,725 shares of the financial services provider’s stock, valued at approximately $4,738,000.

A number of other institutional investors have also modified their holdings of the company. Reflection Asset Management acquired a new stake in Raymond James Financial in the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the fourth quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its position 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 last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in Raymond James Financial in the 4th quarter worth approximately $35,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Performance

RJF opened at $150.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The firm has a 50 day moving average of $152.72 and a two-hundred day moving average of $156.40. The firm has a market capitalization of $29.33 billion, a PE ratio of 14.23, a P/E/G ratio of 1.16 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RJF. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group reissued a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.92.

Raymond James Financial 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.