Oak Thistle LLC Takes Position in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Oak Thistle LLC purchased 2,995 shares of Raymond James Financial valued at approximately $416,000 during the 1st quarter, joining a trend of significant institutional investment in the company.
• Raymond James Financial reported earnings of $2.18 per share, missing analysts' expectations, while revenue rose to $3.40 billion, reflecting a year-over-year increase of 5.3%.
• The company declared a quarterly dividend of $0.50, representing an annualized dividend of $2.00 and a yield of 1.19%, with a payout ratio of 19.61%.

Oak Thistle LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,995 shares of the financial services provider's stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the 1st quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $27,000. Golden State Wealth Management LLC raised its holdings in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $33,000. Finally, Larson Financial Group LLC increased its stake in Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock valued at $45,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased 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 note on Thursday, July 24th. JMP Securities increased their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group decreased their target price on 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. Finally, Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $163.80.

Insiders Place Their Bets

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

Raymond James Financial Stock Performance

Shares of RJF traded down $0.13 during trading hours on Tuesday, hitting $167.30. The company's stock had a trading volume of 186,771 shares, compared to its average volume of 1,355,531. The company has a market cap of $33.75 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The business has a 50 day simple moving average of $152.90 and a two-hundred day simple moving average of $150.07. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.39 earnings per share. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is presently 19.61%.

About Raymond James Financial

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.