Geneva Capital Management LLC Raises Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• Geneva Capital Management raised its stake in Raymond James by 11.5% in Q3 to 107,773 shares (about $18.6M), and institutional investors now own roughly 83.83% of the company.
• Raymond James slightly beat EPS estimates ($2.86 vs. $2.83) while revenue missed ($3.74B vs. $3.83B), and the firm declared a quarterly dividend of $0.54 per share (annualized $2.16, ~1.5% yield) payable April 15; analysts' consensus rating is Hold with a $182.17 target.
• Insider Paul C. Reilly sold 130,687 shares at an average of $163.15 on Dec. 15, cutting his ownership by 33.4%, and corporate insiders now hold about 0.58% of the stock.

Geneva Capital Management LLC boosted its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,773 shares of the financial services provider's stock after purchasing an additional 11,123 shares during the period. Geneva Capital Management LLC owned about 0.05% of Raymond James Financial worth $18,602,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. boosted its holdings in shares of Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased its holdings in Raymond James Financial by 0.6% during the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider's stock valued at $1,763,000 after buying an additional 62 shares during the last quarter. Waterloo Capital L.P. raised its position in Raymond James Financial by 2.0% in the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider's stock worth $506,000 after acquiring an additional 64 shares during the period. Wedmont Private Capital boosted its stake in shares of Raymond James Financial by 0.6% during the 3rd quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider's stock worth $1,727,000 after acquiring an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC grew its position in shares of Raymond James Financial by 2.0% during the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider's stock valued at $563,000 after acquiring an additional 65 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Down 0.2%

Shares of NYSE RJF opened at $148.36 on Thursday. The stock has a market capitalization of $29.24 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.10 and a beta of 1.00. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average price is $163.03 and its 200-day moving average price is $163.65.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial's payout ratio is presently 21.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America lifted their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, December 10th. Barclays started coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an "overweight" rating and a $191.00 price objective on the stock. UBS Group set a $176.00 price objective on Raymond James Financial and gave the company a "neutral" rating in a research note on Thursday, December 11th. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Finally, TD Cowen reissued a "hold" rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $182.17.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider owned 260,546 shares of the company's stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company's stock.

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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