Schneider Downs Wealth Management Advisors LP Boosts Stock Position in Raymond James (NYSE:RJF)

Schneider Downs Wealth Management Advisors LP grew its position in shares of Raymond James (NYSE:RJF) by 363.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,546 shares of the financial services provider’s stock after purchasing an additional 16,901 shares during the period. Raymond James accounts for about 0.5% of Schneider Downs Wealth Management Advisors LP’s investment portfolio, making the stock its 27th largest position. Schneider Downs Wealth Management Advisors LP’s holdings in Raymond James were worth $2,639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP purchased a new position in Raymond James during the second quarter worth about $29,000. Covestor Ltd boosted its stake in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the 3rd quarter valued at about $32,000. Finally, Rothschild Investment LLC acquired a new position in shares of Raymond James during the 2nd quarter valued at about $62,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Trading Up 0.3 %

RJF opened at $160.68 on Friday. The firm has a market capitalization of $33.09 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.81 and a beta of 0.99. The firm’s 50 day moving average is $135.23 and its 200-day moving average is $124.52. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 52-week low of $102.42 and a 52-week high of $163.45.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 EPS. Analysts expect that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JMP Securities raised their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen boosted their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Profile

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.