IFM Investors Pty Ltd Boosts Holdings in Raymond James Financial, Inc. (NYSE:RJF)

IFM Investors Pty Ltd boosted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,548 shares of the financial services provider's stock after purchasing an additional 2,627 shares during the period. IFM Investors Pty Ltd's holdings in Raymond James Financial were worth $5,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. TCTC Holdings LLC raised its stake in Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial in the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial in the 1st quarter worth about $27,000. Golden State Wealth Management LLC increased its holdings in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Raymond James Financial by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Citigroup boosted their target price on Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. JMP Securities restated a "market outperform" rating and set a $175.00 price objective on shares of Raymond James Financial in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Raymond James Financial currently has an average rating of "Hold" and a consensus price target of $155.18.

Raymond James Financial Trading Up 0.2%

Shares of NYSE:RJF traded up $0.24 during trading on Tuesday, hitting $157.52. The company had a trading volume of 121,443 shares, compared to its average volume of 1,376,668. The stock has a market cap of $31.78 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The company has a fifty day simple moving average of $148.47 and a two-hundred day simple moving average of $149.69. Raymond James Financial, Inc. has a one year low of $104.24 and a one year high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last released 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). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's dividend payout ratio is presently 19.25%.

Insider Activity at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider owned 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm'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 completion of the transaction, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

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.