Deroy & Devereaux Private Investment Counsel Inc. Increases Position in Raymond James Financial, Inc. (NYSE:RJF)

Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 288,322 shares of the financial services provider's stock after acquiring an additional 1,878 shares during the quarter. Raymond James Financial makes up 2.3% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 6th biggest position. Deroy & Devereaux Private Investment Counsel Inc. owned 0.14% of Raymond James Financial worth $40,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFM Investors Pty Ltd boosted its stake in Raymond James Financial by 6.9% during the 1st quarter. IFM Investors Pty Ltd now owns 40,548 shares of the financial services provider's stock valued at $5,633,000 after acquiring an additional 2,627 shares during the last quarter. Palisade Capital Management LP raised its stake in shares of Raymond James Financial by 0.7% in the 1st quarter. Palisade Capital Management LP now owns 382,889 shares of the financial services provider's stock valued at $53,187,000 after purchasing an additional 2,480 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after purchasing an additional 197 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Raymond James Financial by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,810 shares of the financial services provider's stock worth $2,196,000 after purchasing an additional 110 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Raymond James Financial by 1.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,634 shares of the financial services provider's stock valued at $3,005,000 after buying an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RJF shares. JMP Securities reiterated a "market outperform" rating and issued a $175.00 target price on shares of Raymond James Financial in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Citigroup lowered their target price on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average target price of $153.82.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock traded up $1.70 during trading on Friday, hitting $159.88. 599,865 shares of the stock were exchanged, compared to its average volume of 1,328,960. 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, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The stock's fifty day moving average is $147.63 and its 200 day moving average is $149.68. The stock has a market cap of $32.26 billion, a PE ratio of 15.39, a P/E/G ratio of 1.92 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is 19.25%.

Insider Activity at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the firm'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 transaction, the insider directly owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's 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 directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.