Van ECK Associates Corp Acquires Shares of 21,021 Raymond James (NYSE:RJF)

Van ECK Associates Corp acquired a new stake in Raymond James (NYSE:RJF - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,021 shares of the financial services provider's stock, valued at approximately $2,574,000.

Other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its stake in shares of 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 period. Quarry LP bought a new stake in shares of Raymond James in the 2nd quarter valued at about $29,000. Covestor Ltd increased its stake in shares of Raymond James by 77.0% in the 1st 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 acquired a new stake in shares of Raymond James in the 3rd quarter valued at approximately $32,000. Finally, Rothschild Investment LLC acquired a new position in Raymond James during the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Wells Fargo & Company increased their price target on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Bank of America lifted their price objective on Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $140.91.

Raymond James Stock Up 2.5 %

Shares of NYSE:RJF traded up $3.98 during midday trading on Monday, reaching $162.71. The company had a trading volume of 687,341 shares, compared to its average volume of 1,145,412. The business's 50 day moving average price is $130.92 and its 200 day moving average price is $123.16. Raymond James has a 1-year low of $99.06 and a 1-year high of $163.39. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $33.51 billion, a PE ratio of 16.77, a P/E/G ratio of 0.80 and a beta of 0.99.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during 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 firm's revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $2.13 earnings per share. Research analysts forecast that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 was Tuesday, October 1st. Raymond James's payout ratio is 18.54%.

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.