Raymond James Financial, Inc. (NYSE:RJF) Position Boosted by Fiera Capital Corp

Key Points

• Fiera Capital Corp increased its stake in Raymond James Financial by 17.0%, acquiring an additional 8,448 shares, bringing its total holdings to 58,125 shares valued at approximately $8,074,000.
• Raymond James reported a miss on earnings per share for the last quarter, posting $2.18 compared to analysts' expectations of $2.36, although quarterly revenue was up 5.3% year-over-year.
• The company declared a $0.50 quarterly dividend, reflecting an annualized dividend of $2.00 with a yield of 1.19%, marking a 19.61% payout ratio.

Fiera Capital Corp boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 17.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,125 shares of the financial services provider's stock after acquiring an additional 8,448 shares during the period. Fiera Capital Corp's holdings in Raymond James Financial were worth $8,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in RJF. FMR LLC boosted its position in shares of Raymond James Financial by 2.2% in the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock worth $1,013,066,000 after acquiring an additional 137,277 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Raymond James Financial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock worth $680,378,000 after acquiring an additional 40,576 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Raymond James Financial by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock worth $393,554,000 after acquiring an additional 24,195 shares during the last quarter. Invesco Ltd. raised its holdings in Raymond James Financial by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock valued at $378,276,000 after buying an additional 192,904 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Raymond James Financial by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock valued at $324,390,000 after buying an additional 178,262 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

Raymond James Financial stock traded down $4.01 during midday trading on Friday, hitting $163.12. The company's stock had a trading volume of 960,869 shares, compared to its average volume of 1,353,744. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $154.04 and its 200-day moving average price is $150.42. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a market capitalization of $32.91 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02.

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 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm posted $2.39 earnings per share. Raymond James Financial's revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RJF shares. Morgan Stanley lifted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. The Goldman Sachs Group reduced their price target 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. Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Nine research 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 company. According to MarketBeat, Raymond James Financial currently has an average rating of "Hold" and a consensus price target of $163.80.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the business'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 sale, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

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.