Deutsche Bank AG Purchases 23,153 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Deutsche Bank AG boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,233 shares of the financial services provider's stock after purchasing an additional 23,153 shares during the period. Deutsche Bank AG owned approximately 0.32% of Raymond James Financial worth $91,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RJF. Vanguard Group Inc. boosted its holdings in shares of Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock valued at $3,089,942,000 after buying an additional 347,916 shares during the period. Earnest Partners LLC lifted its holdings in Raymond James Financial by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock worth $393,554,000 after purchasing an additional 24,195 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Raymond James Financial by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock worth $324,390,000 after acquiring an additional 178,262 shares during the period. Northern Trust Corp boosted its holdings in shares of Raymond James Financial by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after acquiring an additional 327,739 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 1,502.0% during the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after acquiring an additional 1,765,588 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction 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 transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a research note on Wednesday, April 30th. JMP Securities increased their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, Cowen reissued a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. 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 company's stock. According to MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Up 2.1%

RJF traded up $3.53 on Tuesday, reaching $168.45. 649,525 shares of the company traded hands, compared to its average volume of 1,080,110. The stock's 50 day moving average price is $157.10 and its 200-day moving average price is $150.23. Raymond James Financial, Inc. has a 52-week low of $110.06 and a 52-week high of $174.32. The company has a market cap of $33.58 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.39 earnings per share. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's dividend 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.