Raymond James Financial, Inc. $RJF Position Increased by UBS Group AG

Key Points

• UBS raised its stake in Raymond James by 37.1% in Q4 to 841,859 shares (about a 0.43% ownership) valued at roughly $135.2 million, amid high overall institutional ownership (~83.8%).
• Insider Bella Loykhter Allaire sold 29,551 shares on March 19 for about $4.21 million, cutting her holding by 35.54%; company insiders now own approximately 0.58% of the stock.
• Raymond James posted Q1 EPS of $2.83, beating estimates ($2.76) while revenue of $3.86 billion slightly missed consensus but was up 13.4% year-over-year, and the firm pays a quarterly dividend of $0.54 ($2.16 annual, ~1.4% yield).

UBS Group AG raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 37.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 841,859 shares of the financial services provider's stock after buying an additional 227,781 shares during the period. UBS Group AG owned about 0.43% of Raymond James Financial worth $135,194,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RJF. Thrivent Financial for Lutherans grew its position in Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider's stock valued at $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Raymond James Financial by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider's stock valued at $5,402,000 after buying an additional 6,953 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Raymond James Financial by 2,000.9% during the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider's stock valued at $781,000 after buying an additional 4,342 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Raymond James Financial by 24.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider's stock valued at $10,195,000 after buying an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at about $1,487,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Price Performance

Shares of RJF opened at $158.53 on Friday. Raymond James Financial, Inc. has a twelve month low of $136.40 and a twelve month high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm's 50 day moving average price is $149.65 and its 200 day moving average price is $158.39. The firm has a market cap of $31.24 billion, a PE ratio of 14.98, a PEG ratio of 1.19 and a beta of 1.00.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company posted $2.42 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial's dividend payout ratio (DPR) is 20.42%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RJF shares. UBS Group reaffirmed a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Jefferies Financial Group cut their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a research report on Monday, April 6th. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, TD Cowen reaffirmed a "hold" rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $173.25.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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