Moran Wealth Management LLC Raises Stake in Raymond James Financial, Inc. (NYSE:RJF)

Moran Wealth Management LLC boosted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,814 shares of the financial services provider's stock after acquiring an additional 4,035 shares during the period. Moran Wealth Management LLC's holdings in Raymond James Financial were worth $5,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC grew its stake in Raymond James Financial by 176.7% during 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial in the first quarter valued at about $25,000. Plato Investment Management Ltd increased its stake in Raymond James Financial by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after buying an additional 217 shares during the last quarter. Covestor Ltd increased its position in shares of Raymond James Financial by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in shares of Raymond James Financial during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of 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. Morgan Stanley increased their price objective on Raymond James Financial from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $153.82.

Insiders Place Their Bets

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

Raymond James Financial Trading Up 0.7%

NYSE RJF traded up $1.00 on Thursday, hitting $152.73. The company's stock had a trading volume of 1,176,801 shares, compared to its average volume of 1,398,201. The firm has a market cap of $30.81 billion, a P/E ratio of 14.70, a PEG ratio of 1.81 and a beta of 1.03. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32. The company's 50-day simple moving average is $145.09 and its 200 day simple moving average is $149.91. 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 announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business's revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.25%.

Raymond James Financial 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.