ABC Arbitrage SA Makes New $434,000 Investment in Raymond James Financial, Inc. (NYSE:RJF)

ABC Arbitrage SA bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,125 shares of the financial services provider's stock, valued at approximately $434,000.

A number of other institutional investors also recently bought and sold shares of the company. J. Safra Sarasin Holding AG purchased a new stake in shares of Raymond James Financial in the first quarter valued at $2,036,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Raymond James Financial by 14.6% in the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 5,500 shares of the financial services provider's stock valued at $764,000 after acquiring an additional 700 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Raymond James Financial by 1.5% in the first quarter. PNC Financial Services Group Inc. now owns 575,923 shares of the financial services provider's stock valued at $80,001,000 after acquiring an additional 8,463 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Raymond James Financial in the first quarter valued at $361,000. Finally, MGO One Seven LLC increased its stake in Raymond James Financial by 6.2% in the first quarter. MGO One Seven LLC now owns 18,225 shares of the financial services provider's stock valued at $2,532,000 after purchasing an additional 1,057 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Up 0.1%

RJF opened at $166.64 on Wednesday. The firm has a 50 day moving average price of $155.19 and a 200 day moving average price of $150.39. The company has a market cap of $33.62 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. Raymond James Financial, Inc. has a 1 year low of $105.35 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.39 EPS. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

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

Insider Activity

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Morgan Stanley increased their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a research report on Wednesday, April 30th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. Finally, JMP Securities increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $163.80.

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.

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