Quantitative Investment Management LLC Buys 6,236 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Quantitative Investment Management LLC increased its stake in Raymond James Financial, Inc. by 427.1%, acquiring an additional 6,236 shares, bringing its total holdings to 7,696 shares valued at over $1 million.
• Insider Bella Loykhter Allaire sold 6,570 shares at an average price of $146.61, marking an 8.10% decrease in her ownership.
• Raymond James Financial missed EPS expectations for its last quarter, reporting $2.18 compared to the anticipated $2.36, although it achieved a 5.3% revenue increase year-over-year.

Quantitative Investment Management LLC grew its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 427.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,696 shares of the financial services provider's stock after acquiring an additional 6,236 shares during the quarter. Quantitative Investment Management LLC's holdings in Raymond James Financial were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial during the first quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial during the first quarter valued at $27,000. Golden State Wealth Management LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial during the first quarter valued at $33,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 121 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the 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 owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company upped their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Raymond James Financial has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Performance

Shares of RJF opened at $165.1790 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $159.87 and a two-hundred day simple moving average of $149.84. The stock has a market cap of $32.93 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.36 and a beta of 1.05. Raymond James Financial, Inc. has a 52 week low of $113.91 and a 52 week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

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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