MQS Management LLC Makes New Investment in Raymond James Financial, Inc. (NYSE:RJF)

MQS Management LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,791 shares of the financial services provider's stock, valued at approximately $527,000.

Other institutional investors also recently modified their holdings of the company. Formidable Asset Management LLC raised its holdings in Raymond James Financial by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 67 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Raymond James Financial by 9.0% during the first 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. Brighton Jones LLC grew its stake in Raymond James Financial by 3.6% during the first quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock worth $398,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Raymond James Financial by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the financial services provider's stock valued at $1,375,000 after buying an additional 100 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Raymond James Financial by 0.8% in the 1st quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider's stock valued at $1,752,000 after buying an additional 103 shares during the period. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the topic of several analyst reports. Bank of America lowered shares of 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. Wells Fargo & Company raised their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday. Citigroup lifted their price target on Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $143.00 to $151.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group reduced their price objective 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. Ten research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $160.00.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider directly owned 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares in the company, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $158.49 on Monday. The stock has a 50-day moving average price of $150.08 and a two-hundred day moving average price of $149.73. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a market capitalization of $31.98 billion, a PE ratio of 15.25, a P/E/G ratio of 1.31 and a beta of 1.02. 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 (EPS) 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 business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business earned $2.31 EPS. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current 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 paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. Raymond James Financial's dividend payout ratio is 19.25%.

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.

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