Lombard Odier Asset Management Switzerland SA Purchases New Position in Raymond James Financial, Inc. $RJF

Lombard Odier Asset Management Switzerland SA acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,900 shares of the financial services provider’s stock, valued at approximately $854,000.

Several other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings 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 purchasing an additional 474,477 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 valued at $447,381,000 after buying an additional 21,856 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Raymond James Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after buying an additional 41,413 shares in the last quarter. Invesco Ltd. increased 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 worth $375,543,000 after buying an additional 254,773 shares in the last quarter. Finally, Norges Bank purchased a new position in Raymond James Financial in the 4th quarter worth about $324,263,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Up 2.5%

Shares of RJF stock opened at $173.57 on Tuesday. 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 stock has a market cap of $33.83 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.06 and a beta of 0.93. The company has a 50 day simple moving average of $157.38 and a two-hundred day simple moving average of $156.57.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the company posted $2.18 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts expect that Raymond James Financial, Inc. will post 12.01 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RJF. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Morgan Stanley raised their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Finally, Barclays boosted their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and an average price target of $179.64.

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.