30,773 Shares in Raymond James Financial, Inc. $RJF Bought by Quantbot Technologies LP

Key Points

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Quantbot Technologies LP acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,773 shares of the financial services provider's stock, valued at approximately $4,275,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the 1st quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial during the 1st quarter worth $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 buying an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial during the 1st quarter worth $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 buying an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 74,586 shares of the company's stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Morgan Stanley upped their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Trading Up 0.7%

Shares of RJF stock opened at $164.45 on Tuesday. The stock has a market cap of $32.79 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.34 and a beta of 1.05. The stock has a 50-day moving average of $158.57 and a 200-day moving average of $149.91. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 EPS. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

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.

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