Bridgewater Advisors Inc. Invests $761,000 in Raymond James Financial, Inc. (NYSE:RJF)

Bridgewater Advisors Inc. purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,508 shares of the financial services provider's stock, valued at approximately $761,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Raymond James Financial in the fourth quarter valued at approximately $294,647,000. GAMMA Investing LLC grew its position in Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after buying an additional 672,164 shares during the last quarter. Select Equity Group L.P. acquired a new position in Raymond James Financial in the 4th quarter valued at $81,611,000. Northern Trust Corp raised its position in Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after buying an additional 327,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Raymond James Financial by 17.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,696 shares of the financial services provider's stock worth $236,054,000 after acquiring an additional 226,633 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider directly owned 74,586 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider James E. Bunn sold 3,650 shares of the business'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 transaction, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday. Wells Fargo & Company increased their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on Raymond James Financial from $143.00 to $151.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $162.40.

Raymond James Financial Price Performance

Shares of RJF stock traded up $3.29 during trading hours on Thursday, hitting $159.44. The company's stock had a trading volume of 566,805 shares, compared to its average volume of 1,313,362. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $150.99 and a 200-day moving average of $149.84. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a market cap of $32.17 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.30 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's dividend payout ratio is currently 19.25%.

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.