GAMMA Investing LLC Boosts Holdings in Raymond James Financial, Inc. (NYSE:RJF)

GAMMA Investing LLC increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 82.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,858 shares of the financial services provider's stock after buying an additional 2,197 shares during the quarter. GAMMA Investing LLC's holdings in Raymond James Financial were worth $675,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Raymond James Financial during the 4th quarter worth approximately $294,647,000. Raymond James Financial Inc. acquired a new position in Raymond James Financial during the fourth quarter worth $105,701,000. Select Equity Group L.P. purchased a new position in shares of Raymond James Financial during the fourth quarter worth $81,611,000. PNC Financial Services Group Inc. grew its stake in shares of Raymond James Financial by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after buying an additional 461,069 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Raymond James Financial by 18.4% in the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after buying an additional 327,739 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RJF shares. Morgan Stanley raised their target price on Raymond James Financial from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup dropped their price target on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $153.82.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider directly owned 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Raymond James Financial Trading Up 0.1%

NYSE:RJF opened at $153.35 on Tuesday. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The stock has a market cap of $30.94 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a 50-day simple moving average of $146.32 and a 200-day simple moving average of $149.59.

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

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's payout ratio 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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