D.A. Davidson & CO. Acquires 9,031 Shares of Raymond James Financial, Inc. $RJF

Key Points

• D.A. Davidson & Co. increased its stake in Raymond James by 168.4% in Q4, buying 9,031 shares to own 14,393 shares worth about $2.31 million.
• Insider Bella Loykhter Allaire sold 29,551 shares on March 19 at an average of $142.34 for roughly $4.21 million, reducing her position by 35.5%; insiders now own 0.58% of the company.
• Raymond James beat EPS estimates with $2.83 per share while revenue of $3.86 billion slightly missed expectations but rose 13.4% year‑over‑year; the firm pays a $0.54 quarterly dividend (1.4% yield) and carries a consensus analyst rating of Hold with a $173.25 target.

D.A. Davidson & CO. increased its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 168.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,393 shares of the financial services provider's stock after purchasing an additional 9,031 shares during the quarter. D.A. Davidson & CO.'s holdings in Raymond James Financial were worth $2,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RJF. Salomon & Ludwin LLC purchased a new position in shares of Raymond James Financial in the third quarter worth about $31,000. Quent Capital LLC purchased a new stake in Raymond James Financial during the 3rd quarter valued at about $33,000. Anfield Capital Management LLC purchased a new stake in Raymond James Financial during the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the 4th quarter worth approximately $32,000. Finally, Harbor Investment Advisory LLC increased its stake in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the period. 83.83% of the stock is owned by institutional investors.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company's stock.

Raymond James Financial Stock Down 1.3%

RJF stock opened at $156.33 on Friday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The business's 50 day moving average price is $149.65 and its two-hundred day moving average price is $158.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 EPS. As a group, analysts forecast that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RJF shares. Barclays reiterated an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. UBS Group reissued a "neutral" rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group cut their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $173.25.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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