Versor Investments LP Takes $918,000 Position in Raymond James (NYSE:RJF)

Versor Investments LP bought a new position in shares of Raymond James (NYSE:RJF - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,500 shares of the financial services provider's stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RJF. Wedmont Private Capital boosted its position in Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider's stock valued at $222,000 after buying an additional 86 shares during the last quarter. Private Advisor Group LLC lifted its position in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 93 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC grew its position in shares of Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider's stock worth $771,000 after buying an additional 96 shares during the period. Finally, Covestor Ltd lifted its holdings in 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 buying an additional 104 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RJF. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. JMP Securities raised their target price on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $140.91.

Raymond James Stock Down 1.0 %

NYSE RJF traded down $1.63 on Wednesday, reaching $160.64. The company had a trading volume of 800,876 shares, compared to its average volume of 1,142,786. The company's fifty day moving average is $133.47 and its 200-day moving average is $123.99. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. 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 has a 1-year low of $101.90 and a 1-year high of $163.45.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly 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 firm 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 company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 EPS. On average, research analysts forecast that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James's payout ratio is presently 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.