OP Asset Management Ltd Makes New Investment in Raymond James Financial, Inc. $RJF

OP Asset Management Ltd acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,725 shares of the financial services provider’s stock, valued at approximately $4,738,000.

Several other institutional investors have also recently made changes to their positions in RJF. Assenagon Asset Management S.A. grew its position in Raymond James Financial by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 30,036 shares of the financial services provider’s stock valued at $4,349,000 after buying an additional 3,669 shares during the period. Aspire Growth Partners LLC raised its position in shares of Raymond James Financial by 9.5% in the first quarter. Aspire Growth Partners LLC now owns 1,777 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 154 shares during the period. LMG Wealth Partners LLC raised its position in shares of Raymond James Financial by 1.1% in the first quarter. LMG Wealth Partners LLC now owns 40,886 shares of the financial services provider’s stock worth $5,920,000 after acquiring an additional 456 shares during the period. High Net Worth Advisory Group LLC boosted its stake in shares of Raymond James Financial by 2.2% during the 1st quarter. High Net Worth Advisory Group LLC now owns 14,265 shares of the financial services provider’s stock worth $2,066,000 after acquiring an additional 302 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Raymond James Financial by 64.1% during the 1st quarter. SG Americas Securities LLC now owns 198,547 shares of the financial services provider’s stock worth $28,748,000 after acquiring an additional 77,536 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Down 0.0%

Shares of NYSE:RJF opened at $150.52 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $152.72 and a two-hundred day moving average of $156.40. The stock has a market cap of $29.33 billion, a P/E ratio of 14.23, a PEG ratio of 1.16 and a beta of 0.94. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66.

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

Raymond James Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. BMO Capital Markets upped their price objective 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. Morgan Stanley increased their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Barclays reissued an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average price target 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.