Lecap Asset Management Ltd. Makes New $349,000 Investment in Raymond James Financial, Inc. (NYSE:RJF)

Lecap Asset Management Ltd. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,510 shares of the financial services provider's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the first quarter worth $25,000. TCTC Holdings LLC increased its stake in Raymond James Financial by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares during the period. Plato Investment Management Ltd increased its stake in Raymond James Financial by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after purchasing an additional 217 shares during the period. Covestor Ltd increased its stake 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 during the period. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James Financial in the fourth quarter worth $53,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Up 0.4%

Shares of Raymond James Financial stock traded up $0.63 during trading on Friday, hitting $153.24. 1,843,937 shares of the stock traded hands, compared to its average volume of 1,326,506. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32. The stock's fifty day simple moving average is $145.48 and its 200 day simple moving average is $149.85. The firm has a market cap of $30.92 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03. 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 issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the business earned $2.31 EPS. Raymond James Financial's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 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 1.31%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's payout ratio is currently 19.25%.

Analysts Set New Price Targets

RJF has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. JMP Securities reiterated a "market outperform" rating and issued a $175.00 target price on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised their price target on Raymond James Financial from $149.00 to $161.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and a consensus price target of $153.82.

Insider Activity at Raymond James Financial

In related news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now owns 78,227 shares of the company's stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm'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 completion of the sale, the insider now directly owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.