Raymond James Financial, Inc. (NYSE:RJF) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,454 shares of the financial services provider's stock after acquiring an additional 4,930 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Raymond James Financial were worth $3,258,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the first quarter worth $25,000. TCTC Holdings LLC raised its holdings in shares of Raymond James Financial by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial in the first quarter worth $27,000. Golden State Wealth Management LLC raised its holdings in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial in the first quarter worth $33,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.7%

Shares of NYSE RJF traded up $1.12 on Wednesday, hitting $158.70. The company had a trading volume of 1,005,115 shares, compared to its average volume of 1,328,952. Raymond James Financial, Inc. has a 12-month low of $104.24 and a 12-month high of $174.32. The business has a 50 day moving average of $148.86 and a two-hundred day moving average of $149.74. 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 firm has a market capitalization of $32.02 billion, a P/E ratio of 15.27, a PEG ratio of 1.89 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the previous year, the company earned $2.31 EPS. Raymond James Financial's quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's payout ratio is 19.25%.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction dated 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 owned 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the business's 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 completion of the transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RJF shares. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $143.00 to $151.00 and gave the company a "neutral" rating in a research report on Tuesday. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Citigroup lifted their price objective on Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. Finally, The Goldman Sachs Group lowered their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Ten investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $155.91.

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.