Atlas Wealth LLC Boosts Stake in Raymond James Financial, Inc. $RJF

Atlas Wealth LLC lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 135.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,332 shares of the financial services provider’s stock after purchasing an additional 12,857 shares during the quarter. Atlas Wealth LLC’s holdings in Raymond James Financial were worth $3,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. First Trust Advisors LP boosted its position in shares of Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after buying an additional 474,477 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Invesco Ltd. grew its holdings in Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after buying an additional 254,773 shares during the period. Norges Bank acquired a new position in Raymond James Financial during the fourth quarter worth approximately $324,263,000. Finally, Bank of New York Mellon Corp raised its position in shares of Raymond James Financial by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,240,769 shares of the financial services provider’s stock worth $179,651,000 after buying an additional 39,030 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on RJF shares. Morgan Stanley raised their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Barclays boosted their price target on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $176.64.

Raymond James Financial Trading Down 0.8%

NYSE:RJF opened at $168.41 on Friday. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The business has a fifty day moving average of $155.56 and a 200-day moving average of $156.41.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 earnings per share. Equities analysts predict that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

About Raymond James Financial

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.