Mediolanum International Funds Ltd Grows Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Mediolanum International Funds Ltd increased its stake in Raymond James Financial by 14.4%, owning 14,884 shares worth approximately $2.07 million as of the latest reporting period.
• Raymond James Financial's stock is up 0.3%, trading at $167.99, with a market capitalization of $33.89 billion.
• The company declared a quarterly dividend of $0.50, resulting in an annual yield of 1.19% and a dividend payout ratio of 19.61%.

Mediolanum International Funds Ltd increased its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,884 shares of the financial services provider's stock after purchasing an additional 1,872 shares during the quarter. Mediolanum International Funds Ltd's holdings in Raymond James Financial were worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Formidable Asset Management LLC grew 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 worth $1,227,000 after acquiring an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Raymond James Financial by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after acquiring an additional 73 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in 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 worth $137,000 after acquiring an additional 82 shares during the last quarter. Dynasty Wealth Management LLC grew its holdings in Raymond James Financial by 4.9% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock worth $280,000 after acquiring an additional 94 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in 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 worth $398,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of RJF traded down $4.59 during mid-day trading on Friday, reaching $162.54. The stock had a trading volume of 487,626 shares, compared to its average volume of 1,350,197. The firm has a market cap of $32.79 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.39 and a beta of 1.02. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The business has a fifty day moving average of $154.04 and a 200 day moving average of $150.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results 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). Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $2.39 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is currently 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 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 transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of recent analyst reports. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted 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 note on Friday, July 11th. JPMorgan Chase & Co. lifted their target price 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. Finally, Morgan Stanley lifted their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus target price of $163.80.

About Raymond James Financial

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.