Massachusetts Financial Services Co. MA Has $324.39 Million Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Massachusetts Financial Services Co. MA increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,335,254 shares of the financial services provider's stock after buying an additional 178,262 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.14% of Raymond James Financial worth $324,390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. 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 grew its position in shares of Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after buying an additional 82 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Raymond James Financial by 3.6% in the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of 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 purchasing an additional 100 shares during the period. Finally, QRG Capital Management Inc. raised its stake in Raymond James Financial by 0.8% during the 1st quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider's stock worth $1,752,000 after buying an additional 103 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Trading Down 1.9%

RJF traded down $3.00 during trading on Tuesday, hitting $156.31. 902,564 shares of the company's stock were exchanged, compared to its average volume of 1,325,535. The stock has a 50 day moving average price of $150.08 and a 200 day moving average price of $149.73. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The firm has a market cap of $31.54 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company posted $2.31 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Raymond James Financial's dividend payout ratio (DPR) is 19.25%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RJF. Morgan Stanley increased their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a report on Monday. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Finally, 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 research report on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and an average target price of $162.40.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Raymond James Financial 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.