Blueshift Asset Management LLC Takes $361,000 Position in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Blueshift Asset Management LLC has acquired 2,602 shares of Raymond James Financial, Inc. (NYSE:RJF), valued at approximately $361,000, highlighting institutional interest in the company.
• Analysts have raised their price targets for RJF, with JMP Securities increasing their target from $175 to $180, reflecting bullish sentiment, while Bank of America downgraded it to a "neutral" rating with a target of $159.
• Raymond James Financial reported a Q2 EPS of $2.18, missing estimates, but achieved a revenue of $3.40 billion, showing a year-over-year revenue growth of 5.3%.

Blueshift Asset Management LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,602 shares of the financial services provider's stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RJF. Arrowstreet Capital Limited Partnership increased its holdings in shares of Raymond James Financial by 23.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,908 shares of the financial services provider's stock valued at $8,374,000 after acquiring an additional 10,172 shares during the last quarter. Alliancebernstein L.P. boosted its position in Raymond James Financial by 17.4% during the 4th quarter. Alliancebernstein L.P. now owns 247,600 shares of the financial services provider's stock worth $38,460,000 after acquiring an additional 36,681 shares during the period. Huntington National Bank lifted its holdings in shares of Raymond James Financial by 22.5% in the fourth quarter. Huntington National Bank now owns 2,783 shares of the financial services provider's stock valued at $432,000 after buying an additional 511 shares during the period. Nicolet Advisory Services LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at $228,000. Finally, Landscape Capital Management L.L.C. lifted its holdings in shares of Raymond James Financial by 187.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 13,243 shares of the financial services provider's stock valued at $2,057,000 after buying an additional 8,636 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Raymond James Financial Price Performance

RJF stock traded down $1.57 during midday trading on Thursday, reaching $165.19. 24,652 shares of the company's stock traded hands, compared to its average volume of 1,331,181. The company has a 50-day simple moving average of $155.60 and a two-hundred day simple moving average of $150.50. Raymond James Financial, Inc. has a 1-year low of $107.37 and a 1-year high of $174.32. The company has a market cap of $33.33 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.36 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.39 earnings per share. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's payout ratio is 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RJF shares. Morgan Stanley boosted their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JMP Securities upped their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $163.80.

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.