IFP Advisors Inc raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,889 shares of the financial services provider’s stock after buying an additional 1,153 shares during the period. IFP Advisors Inc’s holdings in Raymond James Financial were worth $525,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Raymond James Financial during the fourth quarter worth about $4,297,000. Hartford Investment Management Co. acquired a new stake in Raymond James Financial during the first quarter worth about $2,216,000. TIAA CREF Investment Management LLC boosted its stake in Raymond James Financial by 11.3% in the third quarter. TIAA CREF Investment Management LLC now owns 442,961 shares of the financial services provider’s stock worth $25,785,000 after buying an additional 44,894 shares during the last quarter. BlackRock Group LTD boosted its stake in Raymond James Financial by 1.3% in the third quarter. BlackRock Group LTD now owns 497,609 shares of the financial services provider’s stock worth $28,966,000 after buying an additional 6,358 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Raymond James Financial by 1.5% in the third quarter. Mutual of America Capital Management LLC now owns 102,662 shares of the financial services provider’s stock worth $5,976,000 after buying an additional 1,529 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Raymond James Financial, Inc. (RJF) traded down 0.92% during midday trading on Tuesday, hitting $73.00. The stock had a trading volume of 417,870 shares. The stock has a market capitalization of $10.47 billion, a PE ratio of 19.07 and a beta of 1.53. Raymond James Financial, Inc. has a 1-year low of $46.30 and a 1-year high of $81.92. The stock’s 50-day moving average is $74.36 and its 200-day moving average is $74.76.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.14. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. Raymond James Financial had a return on equity of 12.02% and a net margin of 9.91%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post $4.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be given a $0.22 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%. Raymond James Financial’s dividend payout ratio is currently 22.34%.
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Several equities analysts have recently weighed in on RJF shares. Nomura reaffirmed a “buy” rating and set a $94.00 price target on shares of Raymond James Financial in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research note on Thursday, April 6th. Finally, Instinet decreased their price target on shares of Raymond James Financial to $89.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.00.
In other Raymond James Financial news, SVP Jennifer C. Ackart sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $79.44, for a total transaction of $198,600.00. Following the sale, the senior vice president now directly owns 17,999 shares of the company’s stock, valued at $1,429,840.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 1,880 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $73.30, for a total value of $137,804.00. Following the sale, the executive vice president now directly owns 3,000 shares in the company, valued at $219,900. The disclosure for this sale can be found here. Insiders sold 10,434 shares of company stock worth $830,229 over the last quarter. 11.18% of the stock is owned by company insiders.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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