Applied Finance Capital Management LLC Invests $654,000 in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Applied Finance Capital Management LLC invested approximately $654,000 in Raymond James Financial, acquiring 4,705 shares in the first quarter.
• Major institutional investors, including Mediolanum International Funds Ltd and Nvwm LLC, have also significantly increased their positions in Raymond James Financial, indicating strong investor interest.
• Raymond James Financial's stock price currently sits at $168.44, with a market capitalization of $33.99 billion and a price-to-earnings ratio of 16.51.

Applied Finance Capital Management LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,705 shares of the financial services provider's stock, valued at approximately $654,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mediolanum International Funds Ltd grew its position in shares of Raymond James Financial by 14.4% during the first quarter. Mediolanum International Funds Ltd now owns 14,884 shares of the financial services provider's stock worth $2,069,000 after buying an additional 1,872 shares in the last quarter. Nvwm LLC boosted its holdings in Raymond James Financial by 38,766.7% in the first quarter. Nvwm LLC now owns 3,498 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 3,489 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Raymond James Financial by 8.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 41,577 shares of the financial services provider's stock valued at $5,775,000 after purchasing an additional 3,152 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Raymond James Financial by 19.9% in the first quarter. Cetera Investment Advisers now owns 28,699 shares of the financial services provider's stock valued at $3,987,000 after purchasing an additional 4,757 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Raymond James Financial by 7.1% in the first quarter. Avantax Advisory Services Inc. now owns 17,628 shares of the financial services provider's stock valued at $2,449,000 after purchasing an additional 1,175 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James Financial

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

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $168.44 on Friday. The firm's fifty day simple moving average is $152.63 and its 200-day simple moving average is $150.05. The stock has a market capitalization of $33.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.40 and a beta of 1.02. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the firm earned $2.39 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday. The Goldman Sachs Group lowered their price target on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company upped their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and an average target price of $163.80.

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.

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