Entropy Technologies LP Takes Position in Raymond James Financial, Inc. $RJF

Key Points

• Entropy Technologies LP opened a new position in Raymond James Financial during the fourth quarter, buying 14,013 shares worth about $2.25 million.
• Other institutional investors also adjusted holdings, and 83.83% of Raymond James Financial’s stock is now owned by institutions.
• The company beat quarterly EPS estimates with $2.83 per share, and it also declared a quarterly dividend of $0.54 per share, payable July 15.

Entropy Technologies LP purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,013 shares of the financial services provider's stock, valued at approximately $2,250,000.

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

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RJF shares. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Barclays reiterated an "overweight" rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. 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. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a report on Thursday, April 23rd. Finally, TD Cowen lowered their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $172.92.

Raymond James Financial Price Performance

RJF opened at $154.60 on Tuesday. The firm has a market capitalization of $30.13 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The business's 50-day moving average is $151.30 and its two-hundred day moving average is $156.55. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period last year, the business earned $2.42 EPS. The company's revenue was up 13.4% compared to the same quarter last year. Research analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's payout ratio is currently 20.42%.

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.

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