KBC Group NV Boosts Holdings in Raymond James (NYSE:RJF)

KBC Group NV lifted its holdings in Raymond James (NYSE:RJF) by 28.2% in the third quarter, HoldingsChannel reports. The fund owned 412,951 shares of the financial services provider’s stock after buying an additional 90,845 shares during the period. KBC Group NV’s holdings in Raymond James were worth $50,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Raymond James by 0.3% in the third quarter. Victory Capital Management Inc. now owns 120,822 shares of the financial services provider’s stock worth $14,796,000 after purchasing an additional 388 shares during the last quarter. Cumberland Partners Ltd increased its holdings in shares of Raymond James by 24.7% in the third quarter. Cumberland Partners Ltd now owns 9,100 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 1,800 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after acquiring an additional 7,028 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Raymond James by 9.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 15,781 shares of the financial services provider’s stock valued at $1,933,000 after acquiring an additional 1,380 shares during the period. Finally, Versor Investments LP bought a new position in Raymond James during the 3rd quarter worth approximately $918,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF opened at $160.15 on Friday. The company has a 50-day simple moving average of $134.32 and a two-hundred day simple moving average of $124.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market capitalization of $32.98 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. Raymond James has a one year low of $102.42 and a one year high of $163.45.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. On average, analysts anticipate that Raymond James will post 10.78 EPS for the current fiscal year.

Raymond James Announces Dividend

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

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.91.

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.