Bank of Montreal Can Grows Stock Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Bank of Montreal Can increased its stake in Raymond James by 3.7% to 291,348 shares (about 0.15% of the company), valued at roughly $50.29 million per its latest 13F filing.
• Insider Paul C. Reilly sold 130,687 shares at an average price of $163.15 (≈$21.32 million), reducing his holding by 33.4% to 260,546 shares.
• Raymond James beat Q4 EPS estimates ($2.86 vs. $2.83) but missed revenue ($3.74B vs. $3.83B), and declared a quarterly dividend of $0.54 (annualized $2.16, ~1.5% yield).

Bank of Montreal Can lifted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,348 shares of the financial services provider's stock after purchasing an additional 10,274 shares during the quarter. Bank of Montreal Can owned about 0.15% of Raymond James Financial worth $50,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after buying an additional 314 shares during the last quarter. Woodline Partners LP increased its position in shares of Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock valued at $2,164,000 after acquiring an additional 4,592 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $253,000. Penserra Capital Management LLC lifted its position in Raymond James Financial by 11.7% in the 2nd quarter. Penserra Capital Management LLC now owns 1,020 shares of the financial services provider's stock valued at $155,000 after acquiring an additional 107 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Raymond James Financial during the second quarter valued at $3,776,000. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays started coverage on Raymond James Financial in a research report on Wednesday, January 28th. They issued an "overweight" rating and a $191.00 target price for the company. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a "neutral" rating in a report on Thursday, December 11th. Bank of America increased their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 10th. TD Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Finally, Weiss Ratings raised shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $182.17.

Raymond James Financial Price Performance

NYSE RJF opened at $144.64 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.10 and a beta of 1.00. The company's 50 day moving average is $162.71 and its two-hundred day moving average is $163.52.

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

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial's dividend payout ratio (DPR) 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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