30,070 Shares in Raymond James Financial, Inc. $RJF Bought by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. initiated a new position in Raymond James Financial in the fourth quarter, buying 30,070 shares worth about $4.83 million.
• Raymond James Financial reported better-than-expected quarterly earnings of $2.83 per share, topping estimates, while revenue rose 13.4% year over year to $3.86 billion.
• The company declared a quarterly dividend of $0.54 per share, payable July 15, implying an annualized yield of about 1.5%.

Eurizon Capital SGR S.p.A. bought a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,070 shares of the financial services provider's stock, valued at approximately $4,833,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac acquired a new position in Raymond James Financial in the 4th quarter worth $871,000. National Pension Service boosted its stake in shares of Raymond James Financial by 4.7% during the 4th quarter. National Pension Service now owns 294,078 shares of the financial services provider's stock worth $47,226,000 after buying an additional 13,273 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of Raymond James Financial by 153.0% during the 4th quarter. Rothschild Investment LLC now owns 1,303 shares of the financial services provider's stock worth $209,000 after buying an additional 788 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Raymond James Financial by 9.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,731 shares of the financial services provider's stock worth $599,000 after buying an additional 319 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Raymond James Financial by 728.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 12,458 shares of the financial services provider's stock worth $2,001,000 after buying an additional 10,955 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Trading Up 1.9%

Shares of NYSE:RJF opened at $146.10 on Tuesday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The company has a market capitalization of $28.47 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The company has a 50-day simple moving average of $149.89 and a 200 day simple moving average of $156.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results 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 net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $2.42 EPS. Raymond James Financial's revenue was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is 20.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RJF shares. Morgan Stanley increased their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. TD Cowen reduced their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 28th. UBS Group restated a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Jefferies Financial Group reduced their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Finally, BMO Capital Markets increased their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and a consensus target price of $172.92.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by company insiders.

Raymond James Financial 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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