National Bank of Canada FI Raises Stake in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• National Bank of Canada FI increased its stake in Raymond James Financial (NYSE:RJF) by 60.6% in the first quarter, now holding 141,350 shares valued at approximately $19.64 million.
• Insider Bella Loykhter Allaire sold 6,570 shares at an average price of $146.61, decreasing their ownership by 8.10% to 74,586 shares, which are now valued at about $10.94 million.
• Analyst ratings for RJF indicate a general consensus of "Hold" with an average target price of $163.80, following various adjustments from firms including JMP Securities and Morgan Stanley.

National Bank of Canada FI grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 60.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,350 shares of the financial services provider's stock after buying an additional 53,314 shares during the period. National Bank of Canada FI owned 0.07% of Raymond James Financial worth $19,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the first quarter worth $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial in the first quarter worth about $27,000. Golden State Wealth Management LLC grew its position in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial during the first quarter worth about $33,000. Finally, TCTC Holdings LLC grew its holdings in Raymond James Financial by 72.9% during 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 in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Raymond James Financial Trading Up 2.1%

RJF stock traded up $3.53 during midday trading on Tuesday, hitting $168.45. 649,525 shares of the company's stock were exchanged, compared to its average volume of 1,080,110. The business has a 50-day simple moving average of $157.10 and a two-hundred day simple moving average of $150.23. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $33.58 billion, a PE ratio of 16.51, a P/E/G ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a 1-year low of $110.06 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The firm 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 company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, sell-side 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued 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 of this dividend was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RJF shares. JMP Securities lifted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on 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. Finally, Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.