FORM Wealth Advisors LLC Takes $379,000 Position in Raymond James Financial, Inc. (NYSE:RJF)

FORM Wealth Advisors LLC bought a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,727 shares of the financial services provider's stock, valued at approximately $379,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC increased its position in shares of Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $25,000. Plato Investment Management Ltd increased its position in shares of Raymond James Financial by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares in the last quarter. Covestor Ltd increased its position in shares of Raymond James Financial by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $53,000. Institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

RJF has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $175.00 price target on shares of Raymond James Financial in a research report on Thursday, April 24th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. Wells Fargo & Company cut their target price on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of Raymond James Financial from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Citigroup cut their target price on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $153.82.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider now owns 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Raymond James Financial Trading Up 1.3%

Shares of RJF stock opened at $150.94 on Tuesday. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a fifty day moving average price of $144.41 and a 200-day moving average price of $149.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market cap of $30.45 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.79 and a beta of 1.03.

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

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is 19.25%.

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.

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