ABLE Financial Group LLC Makes New $388,000 Investment in Raymond James Financial, Inc. (NYSE:RJF)

ABLE Financial Group LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,795 shares of the financial services provider's stock, valued at approximately $388,000.

A number of other large investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the first quarter worth about $25,000. TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its holdings in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after buying an additional 123 shares during the last quarter. Finally, Plato Investment Management Ltd grew its stake in shares of Raymond James Financial by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after buying an additional 217 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

RJF stock traded up $1.21 during mid-day trading on Tuesday, hitting $154.58. 919,456 shares of the company were exchanged, compared to its average volume of 1,323,888. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The stock has a market capitalization of $31.19 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. The business has a 50 day simple moving average of $146.32 and a 200-day simple moving average of $149.59. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results 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 net margin of 13.99% and a return on equity of 19.31%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Raymond James Financial's payout ratio is 19.25%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

RJF has been the topic of several analyst reports. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Citigroup reduced their price target on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their target price on Raymond James Financial from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $153.82.

Raymond James Financial Company 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.