Raymond James Financial, Inc. (NYSE:RJF) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 120.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,213 shares of the financial services provider's stock after acquiring an additional 2,304 shares during the period. Exchange Traded Concepts LLC's holdings in Raymond James Financial were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Principal Securities Inc. lifted its position in Raymond James Financial by 7.3% during the 4th quarter. Principal Securities Inc. now owns 2,092 shares of the financial services provider's stock worth $325,000 after acquiring an additional 142 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Raymond James Financial during the 4th quarter worth approximately $625,000. Bryn Mawr Capital Management LLC acquired a new position in Raymond James Financial during the 4th quarter worth approximately $208,000. Ieq Capital LLC lifted its position in Raymond James Financial by 57.6% during the 4th quarter. Ieq Capital LLC now owns 8,055 shares of the financial services provider's stock worth $1,251,000 after acquiring an additional 2,944 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Raymond James Financial by 17.0% during the 4th quarter. Handelsbanken Fonder AB now owns 69,761 shares of the financial services provider's stock worth $10,836,000 after acquiring an additional 10,141 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. Citigroup dropped their price objective on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley lifted their price objective on Raymond James Financial from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus target price of $153.82.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $148.92 on Friday. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month 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 company has a market capitalization of $30.05 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.79 and a beta of 1.03. The business has a 50 day simple moving average of $144.10 and a 200-day simple moving average of $150.09.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly 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 net margin of 13.99% and a return on equity of 19.31%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the firm posted $2.31 earnings per share. Raymond James Financial's revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. Raymond James Financial's dividend payout ratio (DPR) is 19.25%.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider now owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

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.

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