Johnson Financial Group LLC Invests $2.72 Million in Raymond James Financial, Inc. $RJF

Key Points

• Johnson Financial Group LLC opened a new position in Raymond James Financial, buying 16,932 shares worth about $2.72 million in the fourth quarter. The stake represents roughly 0.2% of Johnson Financial’s portfolio.
• Wall Street sentiment on RJF remains mixed: analysts’ consensus rating is Hold, with an average price target of $172.92. Recent note changes included both price target cuts and increases from firms such as Jefferies, Barclays, and BMO Capital Markets.
• Raymond James Financial reported Q2 EPS of $2.83, beating estimates, and also announced a quarterly dividend of $0.54 per share payable July 15. The stock opened at $146.82 and has traded between $138.82 and $177.66 over the past year.

Johnson Financial Group LLC bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,932 shares of the financial services provider's stock, valued at approximately $2,719,000. Raymond James Financial makes up approximately 0.2% of Johnson Financial Group LLC's portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of RJF. Anfield Capital Management LLC bought a new position in Raymond James Financial in the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the 4th quarter worth $32,000. Harbor Investment Advisory LLC raised its stake in shares of Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after buying an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Raymond James Financial during the fourth quarter valued at about $44,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on RJF shares. Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Jefferies Financial Group lowered their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Barclays restated an "overweight" rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $172.92.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $146.82 on Thursday. The firm has a market capitalization of $28.61 billion, a P/E ratio of 13.88, a PEG ratio of 1.13 and a beta of 0.94. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The business has a fifty day moving average price of $149.99 and a 200-day moving average price of $156.74.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's dividend payout ratio is presently 20.42%.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company's stock.

About Raymond James Financial

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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