Gladius Capital Management LP Makes New Investment in Raymond James (NYSE:RJF)

Gladius Capital Management LP purchased a new stake in shares of Raymond James (NYSE:RJF) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 278 shares of the financial services provider’s stock, valued at approximately $34,000.

A number of other hedge funds have also recently added to or reduced their stakes in RJF. Bessemer Group Inc. grew its position in Raymond James by 1,138.5% in the first quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after acquiring an additional 17,499 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Raymond James by 44.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after purchasing an additional 5,427 shares during the period. Atria Investments Inc increased its position in Raymond James by 37.3% in the 1st quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 8,507 shares during the period. XTX Topco Ltd lifted its holdings in shares of Raymond James by 390.7% during the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after acquiring an additional 15,940 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RJF. Wells Fargo & Company boosted their target price on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine 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 stock presently has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Price Performance

Shares of RJF stock opened at $160.68 on Friday. 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 stock’s fifty day simple moving average is $135.23 and its 200 day simple moving average is $124.52. Raymond James has a one year low of $102.42 and a one year high of $163.45. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.81 and a beta of 0.99.

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

Raymond James Announces Dividend

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