Cetera Investment Advisers Raises Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Cetera Investment Advisers raised its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,699 shares of the financial services provider's stock after purchasing an additional 4,757 shares during the period. Cetera Investment Advisers' holdings in Raymond James Financial were worth $3,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RJF. Arrowstreet Capital Limited Partnership boosted its position in Raymond James Financial by 23.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 53,908 shares of the financial services provider's stock valued at $8,374,000 after buying an additional 10,172 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Raymond James Financial by 17.4% in the fourth quarter. Alliancebernstein L.P. now owns 247,600 shares of the financial services provider's stock valued at $38,460,000 after purchasing an additional 36,681 shares during the period. Prudential PLC raised its holdings in shares of Raymond James Financial by 384.9% during the 4th quarter. Prudential PLC now owns 30,302 shares of the financial services provider's stock valued at $4,707,000 after buying an additional 24,053 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Raymond James Financial in the fourth quarter valued at about $9,292,000. Finally, Cullen Capital Management LLC boosted its stake in Raymond James Financial by 19.1% during the 4th quarter. Cullen Capital Management LLC now owns 12,047 shares of the financial services provider's stock valued at $1,871,000 after purchasing an additional 1,936 shares during the period. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on RJF shares. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a report on Wednesday, April 30th. Morgan Stanley upped their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $163.80.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company's stock.

Raymond James Financial Trading Down 2.4%

NYSE RJF traded down $3.96 during trading hours on Thursday, hitting $162.80. The company's stock had a trading volume of 336,265 shares, compared to its average volume of 1,333,189. Raymond James Financial, Inc. has a twelve month low of $107.37 and a twelve month high of $174.32. The firm has a market capitalization of $32.85 billion, a P/E ratio of 15.96, 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. The stock has a fifty day moving average of $155.60 and a 200 day moving average of $150.50.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.39 EPS. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's payout ratio is presently 19.61%.

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.