XTX Topco Ltd Increases Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• XTX Topco Ltd significantly increased its stake in Raymond James Financial by 714.9%, acquiring an additional 27,143 shares in the first quarter, bringing its total holdings to 30,940 shares valued at approximately $4.3 million.
• Multiple analysts have provided mixed ratings on RJF, with Goldman Sachs lowering its price target from $198.00 to $173.00, while Wells Fargo increased its target from $155.00 to $163.00, signaling a cautious outlook.
• Raymond James Financial reported a miss on earnings per share for its most recent quarter, posting $2.18, which was below the consensus estimate of $2.36, although its revenue increased by 5.3% year-over-year.

XTX Topco Ltd raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 714.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,940 shares of the financial services provider's stock after purchasing an additional 27,143 shares during the quarter. XTX Topco Ltd's holdings in Raymond James Financial were worth $4,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the first quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial in the 1st quarter worth about $27,000. Golden State Wealth Management LLC increased its position in 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 acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial in the first quarter valued at $33,000. Finally, TCTC Holdings LLC raised its stake in shares of Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Down 2.4%

Shares of RJF traded down $4.01 during mid-day trading on Friday, hitting $163.12. 960,869 shares of the company's stock were exchanged, compared to its average volume of 1,353,744. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.39 and a beta of 1.02. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock's 50-day moving average is $154.04 and its 200-day moving average is $150.42.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.39 EPS. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's dividend payout ratio is presently 19.61%.

Insider Buying and Selling at Raymond James Financial

In related news, 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 transaction of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group cut their target price on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, Morgan Stanley upped their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.