Prudential Financial Inc. increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,559,596 shares of the financial services provider’s stock after buying an additional 88,017 shares during the period. Prudential Financial Inc. owned 1.09% of Raymond James Financial worth $118,935,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its position in shares of Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after buying an additional 52 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Raymond James Financial by 4.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,608 shares of the financial services provider’s stock valued at $111,000 after buying an additional 67 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock valued at $138,000 after buying an additional 40 shares during the period. Robecosam AG boosted its position in shares of Raymond James Financial by 29.0% in the third quarter. Robecosam AG now owns 2,000 shares of the financial services provider’s stock valued at $113,000 after buying an additional 450 shares during the period. Finally, FNY Partners Fund LP bought a new position in shares of Raymond James Financial during the fourth quarter valued at $139,000. Institutional investors and hedge funds own 67.37% of the company’s stock.
Shares of Raymond James Financial, Inc. (NYSE:RJF) traded up 0.05% during midday trading on Monday, reaching $73.68. The company had a trading volume of 535,257 shares. The company’s 50-day moving average is $74.50 and its 200-day moving average is $74.41. Raymond James Financial, Inc. has a 1-year low of $46.30 and a 1-year high of $81.92. The stock has a market capitalization of $10.56 billion, a PE ratio of 19.25 and a beta of 1.53.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. Raymond James Financial had a return on equity of 12.02% and a net margin of 9.91%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. Raymond James Financial’s revenue was up 19.1% on a year-over-year basis. On average, equities research analysts forecast that Raymond James Financial, Inc. will post $4.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, June 29th. Raymond James Financial’s dividend payout ratio is 22.34%.
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Several brokerages have weighed in on RJF. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research note on Wednesday, May 24th. Instinet lowered their target price on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Nomura reiterated a “buy” rating and set a $94.00 target price on shares of Raymond James Financial in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and a consensus price target of $81.00.
In other Raymond James Financial news, SVP Jennifer C. Ackart sold 2,500 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $79.44, for a total value of $198,600.00. Following the transaction, the senior vice president now owns 17,999 shares of the company’s stock, valued at $1,429,840.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Dennis W. Zank sold 6,054 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $81.57, for a total value of $493,824.78. Following the completion of the transaction, the chief operating officer now directly owns 140,339 shares in the company, valued at approximately $11,447,452.23. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by corporate 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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