Adelphi Trust Co Invests $1.18 Million in Raymond James Financial, Inc. $RJF

Key Points

• Adelphi Trust Co acquired a new position of 7,321 shares of Raymond James Financial valued at approximately $1.18 million, representing about 1.0% of its portfolio and the firm's 27th-largest holding.
• Institutional investors own 83.83% of RJF and analysts are mixed — four Buys and nine Holds — giving an average rating of Hold with an average price target of $175.58.
• Insider Bella Loykhter Allaire sold 29,551 shares for roughly $4.21 million, trimming her stake by about 35.5%, while corporate insiders collectively own 0.58% of the company.

Adelphi Trust Co acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,321 shares of the financial services provider's stock, valued at approximately $1,176,000. Raymond James Financial makes up approximately 1.0% of Adelphi Trust Co's investment portfolio, making the stock its 27th largest position.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Raymond James Financial by 34.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,728 shares of the financial services provider's stock worth $277,000 after acquiring an additional 438 shares during the period. Bridgewater Advisors Inc. grew its stake in Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock worth $892,000 after acquiring an additional 68 shares during the period. Patton Fund Management Inc. grew its stake in Raymond James Financial by 1,259.5% in the 4th quarter. Patton Fund Management Inc. now owns 21,779 shares of the financial services provider's stock worth $3,497,000 after acquiring an additional 20,177 shares during the period. Assetmark Inc. grew its stake in Raymond James Financial by 8.6% in the 4th quarter. Assetmark Inc. now owns 1,031 shares of the financial services provider's stock worth $166,000 after acquiring an additional 82 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in Raymond James Financial in the 4th quarter worth approximately $44,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RJF shares. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Morgan Stanley decreased their price target on shares of Raymond James Financial from $187.00 to $171.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. TD Cowen reiterated a "hold" rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Jefferies Financial Group decreased their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Finally, Barclays decreased their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $175.58.

Insider Buying and Selling

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

Raymond James Financial Stock Performance

NYSE:RJF opened at $156.07 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $30.76 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.17 and a beta of 1.00. The firm's fifty day simple moving average is $151.41 and its 200 day simple moving average is $159.33. Raymond James Financial, Inc. has a twelve month low of $129.47 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The business's quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial's payout ratio is currently 21.14%.

About Raymond James Financial

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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