7,004 Shares in Raymond James Financial, Inc. (NYSE:RJF) Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. purchased a new position in 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. The institutional investor purchased 7,004 shares of the financial services provider's stock, valued at approximately $973,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RJF. Formidable Asset Management LLC raised its stake in shares of Raymond James Financial by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 67 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after buying an additional 82 shares in the last quarter. Dynasty Wealth Management LLC raised its stake in Raymond James Financial by 4.9% in the first quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock worth $280,000 after buying an additional 94 shares in the last quarter. Brighton Jones LLC raised its stake in Raymond James Financial by 3.6% in the first quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock worth $398,000 after buying an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Raymond James Financial by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the financial services provider's stock worth $1,375,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent research reports. The Goldman Sachs Group reduced 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 note on Thursday, April 3rd. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Morgan Stanley lifted their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JMP Securities lifted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Nine investment 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $162.40.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $160.62 on Monday. The company's 50 day moving average is $151.57 and its two-hundred day moving average is $149.83. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a market cap of $32.41 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.25%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by 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.

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