KBC Group NV Has $50.57 Million Stock Position in Raymond James (NYSE:RJF)

KBC Group NV lifted its position in shares of Raymond James (NYSE:RJF) by 28.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 412,951 shares of the financial services provider’s stock after purchasing an additional 90,845 shares during the quarter. KBC Group NV owned 0.20% of Raymond James worth $50,570,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RJF. Wedmont Private Capital raised its stake in shares of Raymond James by 5.1% in the third 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 period. Portside Wealth Group LLC raised its stake in 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 acquiring an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC raised its stake in Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 96 shares during the period. Covestor Ltd lifted its holdings in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Finally, MFA Wealth Advisors LLC boosted its position in Raymond James by 2.7% during the third quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 0.3 %

RJF stock opened at $160.15 on Friday. The company’s 50 day moving average is $134.32 and its 200 day moving average is $124.24. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 1-year low of $102.42 and a 1-year high of $163.45.

Raymond James (NYSE:RJF) last released its quarterly earnings results 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 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 business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.13 EPS. Sell-side analysts predict that Raymond James will post 10.78 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given 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 payout ratio is 18.54%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. 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 research note on Thursday, October 24th. JMP Securities increased their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted 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. Wells Fargo & Company increased their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.