New Age Alpha Advisors LLC Increases Stake in Raymond James Financial, Inc. $RJF

Key Points

• New Age Alpha Advisors significantly boosted its stake in Raymond James Financial by 81.7% in the fourth quarter, ending with 54,812 shares valued at about $8.8 million.
• Analyst sentiment on RJF remains mixed: the stock has an overall Hold rating, with four Buy ratings and nine Hold ratings, and an average price target of $173.25.
• Raymond James reported better-than-expected EPS of $2.83 in its latest quarter and also declared a quarterly dividend of $0.54 per share, implying a 1.4% annualized yield.

New Age Alpha Advisors LLC raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 81.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,812 shares of the financial services provider's stock after buying an additional 24,646 shares during the quarter. New Age Alpha Advisors LLC's holdings in Raymond James Financial were worth $8,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. grew its holdings in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock valued at $625,000 after buying an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC grew its holdings in Raymond James Financial by 0.6% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider's stock valued at $1,763,000 after buying an additional 62 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after buying an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Raymond James Financial by 2.5% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock valued at $447,000 after buying an additional 68 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its holdings in Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock valued at $892,000 after buying an additional 68 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RJF shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday. TD Cowen reiterated a "hold" rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. Morgan Stanley increased their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Finally, UBS Group reiterated a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average price target of $173.25.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Stock Up 0.0%

NYSE RJF opened at $151.48 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The company has a market capitalization of $29.52 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 0.99. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The stock has a 50 day moving average price of $149.56 and a 200-day moving average price of $157.58.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. As a group, equities analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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