Allspring Global Investments Holdings LLC Boosts Stake in Raymond James Financial, Inc. (NYSE:RJF)

Allspring Global Investments Holdings LLC increased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,792 shares of the financial services provider's stock after acquiring an additional 10,988 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Raymond James Financial worth $14,334,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Raymond James Financial by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Raymond James Financial during the fourth quarter worth approximately $105,701,000. Jefferies Financial Group Inc. acquired a new position in Raymond James Financial during the fourth quarter worth $9,366,000. Assenagon Asset Management S.A. grew its holdings in Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock valued at $3,470,000 after buying an additional 3,035 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Raymond James Financial by 120.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,213 shares of the financial services provider's stock valued at $585,000 after buying an additional 2,304 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $158.20 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market cap of $31.92 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.86 and a beta of 1.02. The firm's 50 day moving average price is $147.17 and its 200-day moving average price is $149.69. Raymond James Financial, Inc. has a one year low of $104.24 and a one year high of $174.32.

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 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company earned $2.31 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's payout ratio is 19.25%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial 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 transaction, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The stock was 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 position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RJF shares. Citigroup reduced their price target on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price target on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $153.82.

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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