GSA Capital Partners LLP Takes $1.58 Million Position in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• GSA Capital Partners LLP has acquired a new position in Raymond James Financial, purchasing 11,390 shares valued at approximately $1,582,000.
• In addition, several other hedge funds dramatically increased their stakes, with Victory Capital Management raising its position by 1,502.0%.
• Raymond James Financial's quarterly dividend of $0.50 per share was recently paid, with a dividend yield of 1.19% and a payout ratio of 19.61%.

GSA Capital Partners LLP bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,390 shares of the financial services provider's stock, valued at approximately $1,582,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Raymond James Financial by 1,502.0% during the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock worth $261,587,000 after purchasing an additional 1,765,588 shares during the period. GAMMA Investing LLC raised its stake in Raymond James Financial by 25,259.8% during the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares in the last quarter. Select Equity Group L.P. acquired a new position in Raymond James Financial during the fourth quarter worth about $81,611,000. Northern Trust Corp grew its holdings in shares of Raymond James Financial by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after purchasing an additional 327,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Raymond James Financial by 17.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,696 shares of the financial services provider's stock worth $236,054,000 after purchasing an additional 226,633 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Price Performance

Shares of NYSE RJF traded down $4.01 during trading hours on Friday, reaching $163.12. 960,869 shares of the stock traded hands, compared to its average volume of 1,353,744. The company has a market capitalization of $32.91 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32. The company's 50-day simple moving average is $154.04 and its two-hundred day simple moving average is $150.42.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm posted $2.39 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's payout ratio is presently 19.61%.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider directly owned 74,586 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of several analyst reports. JMP Securities upped their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. Finally, The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial 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.