Bayforest Capital Ltd Raises Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Bayforest Capital Ltd raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 242.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,960 shares of the financial services provider's stock after purchasing an additional 3,511 shares during the quarter. Bayforest Capital Ltd's holdings in Raymond James Financial were worth $689,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $33,000. Finally, TCTC Holdings LLC boosted its position in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

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 transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. The trade was 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 at the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased 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, July 24th. Keefe, Bruyette & Woods increased 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, July 24th. Wells Fargo & Company lifted their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Stock Down 2.4%

Shares of RJF stock traded down $4.01 on Friday, hitting $163.12. The stock had a trading volume of 960,869 shares, compared to its average volume of 1,353,744. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $154.04 and a 200 day moving average price of $150.42. The company has a market cap of $32.91 billion, a PE ratio of 15.99, a P/E/G ratio of 1.39 and a beta of 1.02. 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 posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter last year, the firm earned $2.39 EPS. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.61%.

Raymond James Financial 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.