Versor Investments LP Takes Position in Raymond James (NYSE:RJF)

Versor Investments LP acquired a new position in shares of Raymond James (NYSE:RJF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,500 shares of the financial services provider’s stock, valued at approximately $918,000.

Several other institutional investors have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC boosted its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in shares of Raymond James in the 2nd quarter valued at about $29,000. Covestor Ltd increased its position in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the third quarter worth about $32,000. Finally, Rothschild Investment LLC acquired a new position in Raymond James during the second quarter valued at approximately $62,000. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America boosted their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen lifted their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Down 0.3 %

Shares of Raymond James stock opened at $162.27 on Wednesday. Raymond James has a 52-week low of $99.06 and a 52-week high of $163.39. The stock has a market cap of $33.42 billion, a PE ratio of 16.71, a PEG ratio of 0.80 and a beta of 0.99. The firm has a 50-day moving average of $132.64 and a 200-day moving average of $123.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $2.13 earnings per share. As a group, sell-side analysts forecast that Raymond James will post 10.73 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 18.54%.

About Raymond James

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.