Machina Capital S.A.S. Buys Shares of 7,568 Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Machina Capital S.A.S. acquired 7,568 shares of Raymond James Financial, Inc. for approximately $1,051,000 during the first quarter, indicating growing institutional interest in the company.
• Raymond James reported $2.18 earnings per share, below analysts' expectations of $2.36, despite revenue exceeding estimates at $3.40 billion.
• The company recently declared a quarterly dividend of $0.50 per share, with an annualized dividend yield of 1.19%, reflecting a payout ratio of 19.61%.

Machina Capital S.A.S. acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,568 shares of the financial services provider's stock, valued at approximately $1,051,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC increased 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 worth $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of Raymond James Financial during the 1st quarter worth $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Raymond James Financial by 364.3% during the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider's stock worth $45,000 after purchasing an additional 255 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

RJF has been the subject of a number of research analyst reports. JMP Securities raised their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Raymond James Financial has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Performance

RJF traded down $0.45 during trading on Monday, hitting $168.08. 136,184 shares of the stock were exchanged, compared to its average volume of 1,359,398. The firm has a market capitalization of $33.91 billion, a P/E ratio of 16.48, a PEG ratio of 1.40 and a beta of 1.02. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The stock has a fifty day moving average price of $152.63 and a two-hundred day moving average price of $149.98. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.39 EPS. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

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.