HB Wealth Management LLC Acquires 2,391 Shares of Raymond James Financial, Inc. (NYSE:RJF)

HB Wealth Management LLC raised its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 166.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,825 shares of the financial services provider's stock after acquiring an additional 2,391 shares during the period. HB Wealth Management LLC's holdings in Raymond James Financial were worth $531,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Formidable Asset Management LLC grew its holdings in shares of Raymond James Financial by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after purchasing an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Raymond James Financial by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Raymond James Financial by 9.0% during the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after buying an additional 82 shares in the last quarter. Dynasty Wealth Management LLC lifted its stake in shares of Raymond James Financial by 4.9% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock valued at $280,000 after acquiring an additional 94 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $167.17 on Friday. The company has a market capitalization of $33.73 billion, a PE ratio of 16.39, a P/E/G 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 twelve month low of $104.24 and a twelve month high of $174.32. The firm has a fifty day simple moving average of $154.04 and a 200 day simple moving average of $150.42.

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

Raymond James Financial Announces Dividend

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

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the 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 in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RJF. Wells Fargo & Company upped their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. JMP Securities upped their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, Morgan Stanley raised their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average 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.

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