Banque Cantonale Vaudoise Acquires Shares of 14,328 Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Banque Cantonale Vaudoise has acquired 14,328 shares of Raymond James Financial, valued around $1,991,000, in the first quarter of 2023.
• Several institutional investors have recently increased their stakes in RJF, with 83.83% of the company's stock now owned by institutional investors.
• Despite reporting revenue of $3.40 billion for the last quarter, Raymond James Financial's earnings per share fell short of analysts' expectations, leading to a reported miss of $0.18.

Banque Cantonale Vaudoise purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,328 shares of the financial services provider's stock, valued at approximately $1,991,000.

Several other institutional investors and hedge funds have also modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the 1st quarter worth about $25,000. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial during the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its position in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial during the 1st quarter worth about $33,000. Finally, TCTC Holdings LLC lifted its position in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of RJF traded down $4.01 during midday trading on Friday, reaching $163.12. The stock had a trading volume of 960,869 shares, compared to its average volume of 1,082,543. The firm has a 50 day simple moving average of $154.40 and a 200-day simple moving average of $150.46. Raymond James Financial, Inc. has a one year low of $104.24 and a one year high of $174.32. The firm has a market cap of $32.91 billion, a PE ratio of 15.99, a P/E/G ratio of 1.37 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the business earned $2.39 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. The Goldman Sachs Group cut their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and a consensus target price of $163.80.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

Raymond James Financial 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.