Raymond James Financial, Inc. $RJF Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP has increased its stake in Raymond James Financial, Inc. by 26.7% to own 189,502 shares, valued at approximately $26.3 million.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have also raised their positions in Raymond James Financial, with institutional ownership now standing at 83.83%.
• Analysts have varying opinions on RJF, with a consensus rating of Hold and an average price target of $163.80, reflecting mixed expectations for the stock's performance.

Korea Investment CORP boosted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 26.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,502 shares of the financial services provider's stock after acquiring an additional 39,980 shares during the period. Korea Investment CORP owned 0.09% of Raymond James Financial worth $26,324,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the first quarter valued at approximately $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 increased its holdings in shares of 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 valued at $28,000 after purchasing an additional 123 shares during the period. Olde Wealth Management LLC acquired a new position in Raymond James Financial in the 1st quarter valued at $33,000. Finally, TCTC Holdings LLC increased its stake in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Activity

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.

Raymond James Financial Price Performance

Raymond James Financial stock traded up $3.1490 during trading hours on Friday, hitting $165.1790. The stock had a trading volume of 677,938 shares, compared to its average volume of 922,189. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market capitalization of $32.93 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.33 and a beta of 1.05. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The stock's fifty day moving average is $159.87 and its two-hundred day moving average is $150.07.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 earnings per share. As a group, 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 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of 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. JMP Securities boosted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a research report on Wednesday, April 30th. Finally, Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Company 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.