Empowered Funds LLC Grows Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Empowered Funds LLC increased its Raymond James Financial stake by 358.5% in the first quarter, owning 23,362 shares valued at approximately $3.37 million. Institutional investors collectively own 83.83% of the stock.
• Raymond James Financial exceeded quarterly expectations, reporting adjusted EPS of $3.14 versus the $2.91 consensus and revenue of $3.93 billion, up 15.6% year over year.
• Analyst sentiment remains mixed, with five Buy ratings and eight Holds and a consensus price target of $181.00. Meanwhile, two company insiders sold a combined 15,770 shares worth about $2.76 million.

Empowered Funds LLC raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 358.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,362 shares of the financial services provider's stock after purchasing an additional 18,267 shares during the quarter. Empowered Funds LLC's holdings in Raymond James Financial were worth $3,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Kingsview Wealth Management LLC grew its stake in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider's stock worth $3,272,000 after purchasing an additional 17,407 shares in the last quarter. Algebris UK Ltd. bought a new stake in Raymond James Financial during the 4th quarter valued at $10,179,000. Fisher Asset Management LLC lifted its holdings in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider's stock worth $63,058,000 after buying an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider's stock worth $17,343,000 after buying an additional 7,202 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider's stock worth $6,654,000 after buying an additional 9,838 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Steven M. Raney sold 5,770 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company's stock, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider owned 45,114 shares of the company's stock, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by insiders.

Raymond James Financial Price Performance

Shares of RJF stock opened at $177.75 on Tuesday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $179.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.08 and a beta of 0.92. The stock's 50-day simple moving average is $159.86 and its 200-day simple moving average is $156.86.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. Raymond James Financial's revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 12.07 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 Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's payout ratio is 18.83%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RJF shares. BMO Capital Markets restated a "market perform" rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Barclays boosted their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Morgan Stanley upped their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Friday, July 10th. Finally, UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a "neutral" rating in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $181.00.

Raymond James Financial Company 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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).

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