Cookson Peirce & Co. Inc. Invests $669,000 in Raymond James Financial, Inc. $RJF

Key Points

• Cookson Peirce & Co. Inc. acquired a new stake in Raymond James Financial, purchasing 4,816 shares valued at approximately $669,000.
• Institutional investors now own 83.83% of Raymond James Financial's stock, indicating significant confidence in the company.
• Analysts have set a consensus price target of $163.80 for Raymond James Financial, with mixed ratings from nine analysts recommending a hold.

Cookson Peirce & Co. Inc. purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,816 shares of the financial services provider's stock, valued at approximately $669,000.

Several other large investors have also recently added to or reduced their stakes in RJF. Lord Abbett & CO. LLC increased its holdings in Raymond James Financial by 31.7% in the first quarter. Lord Abbett & CO. LLC now owns 39,440 shares of the financial services provider's stock valued at $5,479,000 after buying an additional 9,494 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Raymond James Financial by 7.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,574 shares of the financial services provider's stock valued at $913,000 after acquiring an additional 453 shares during the period. Klingman & Associates LLC increased its stake in Raymond James Financial by 16.3% during the 1st quarter. Klingman & Associates LLC now owns 12,203 shares of the financial services provider's stock worth $1,695,000 after buying an additional 1,713 shares during the period. Russell Investments Group Ltd. grew its holdings in Raymond James Financial by 2.8% during the 1st quarter. Russell Investments Group Ltd. now owns 153,556 shares of the financial services provider's stock worth $21,332,000 after acquiring an additional 4,128 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Raymond James Financial by 5.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 62,720 shares of the financial services provider's stock valued at $8,713,000 after buying an additional 2,985 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. Wells Fargo & Company lifted 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. JMP Securities boosted their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Price Performance

NYSE:RJF traded down $0.6450 on Tuesday, hitting $163.7150. The company had a trading volume of 436,870 shares, compared to its average volume of 1,314,394. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.34 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $158.57 and a two-hundred day moving average of $149.91. Raymond James Financial, Inc. has a 52 week low of $113.91 and a 52 week high of $174.32.

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 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 earnings per share. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

Insider Transactions at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial 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 completion of the transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents 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. Company insiders own 0.54% of the company's stock.

Raymond James Financial Company 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.