JT Stratford LLC Buys New Shares in Raymond James Financial, Inc. $RJF

Key Points

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JT Stratford LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,387 shares of the financial services provider's stock, valued at approximately $1,304,000.

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

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Raymond James Financial Price Performance

RJF traded up $3.1490 on Friday, hitting $165.1790. 677,938 shares of the company's stock traded hands, compared to its average volume of 922,189. The company's 50 day simple moving average is $159.87 and its 200-day simple moving average is $150.07. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.33 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $113.91 and a one year high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter last year, the firm posted $2.39 EPS. Raymond James Financial's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is currently 19.61%.

Analyst Ratings Changes

A number of research analysts have weighed in on RJF shares. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their target price 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, Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $163.80.

About Raymond James Financial

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.