J. Safra Sarasin Holding AG Purchases Shares of 14,656 Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• J. Safra Sarasin Holding AG acquired 14,656 shares of Raymond James Financial, valued at approximately $2,036,000, during the 1st quarter.
• Analysts have mixed views on Raymond James Financial, as JMP Securities and Citigroup rated the stock as "outperform," while Bank of America downgraded it from "buy" to "neutral."
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized dividend of $2.00 with a yield of 1.2%.

J. Safra Sarasin Holding AG purchased a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,656 shares of the financial services provider's stock, valued at approximately $2,036,000.

Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the period. Olde Wealth Management LLC acquired a new position in shares of Raymond James Financial during the first quarter valued at about $33,000. Finally, TCTC Holdings LLC increased its position in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RJF shares. Keefe, Bruyette & Woods raised their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a report on Wednesday, April 30th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. 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 note on Friday, July 11th. Finally, Cowen reissued a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Nine research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Stock Performance

NYSE RJF traded down $3.79 during trading hours on Thursday, reaching $162.98. The company's stock had a trading volume of 789,338 shares, compared to its average volume of 1,333,894. Raymond James Financial, Inc. has a 52 week low of $107.37 and a 52 week high of $174.32. The stock has a market cap of $32.88 billion, a PE ratio of 15.98, a PEG ratio of 1.36 and a beta of 1.05. The business has a 50-day simple moving average of $155.60 and a 200 day simple moving average of $150.50. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32.

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 (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.39 earnings per share. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction 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 sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is 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.