12,338 Shares in Raymond James Financial, Inc. $RJF Acquired by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management bought a new position in Raymond James Financial during the fourth quarter, acquiring 12,338 shares worth about $1.98 million.
• Raymond James Financial reported better-than-expected quarterly earnings of $2.83 per share, topping analyst estimates, while revenue rose 13.4% year over year to $3.86 billion.
• The company also paid a quarterly dividend of $0.54 per share, and Wall Street’s consensus view remains Hold with an average price target of $173.25.

Generali Asset Management SPA SGR acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,338 shares of the financial services provider's stock, valued at approximately $1,981,000.

A number of other hedge funds also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the 4th quarter worth approximately $32,000. Quent Capital LLC purchased a new stake in shares of Raymond James Financial in the third quarter worth $33,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial in the third quarter worth $33,000. Harbor Investment Advisory LLC increased its stake in shares of Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its stake in shares of Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Up 0.5%

Shares of RJF stock opened at $154.24 on Friday. The stock has a market cap of $30.06 billion, a P/E ratio of 14.58, a PEG ratio of 1.18 and a beta of 0.99. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company's fifty day simple moving average is $149.76 and its two-hundred day simple moving average is $158.26.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $2.42 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. Analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial's dividend payout ratio is presently 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RJF. TD Cowen reissued a "hold" rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Barclays reiterated an "overweight" rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets increased their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research report on Thursday, April 23rd. Morgan Stanley increased their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Finally, UBS Group reiterated a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $173.25.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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