Raymond James Financial, Inc. $RJF Shares Acquired by Concurrent Investment Advisors LLC

Key Points

• 56.7% stake increase — Concurrent Investment Advisors LLC raised its position in Raymond James to 22,827 shares (worth $3.666 million), while other funds initiated small positions and institutional investors now own 83.83% of the stock.
• EPS beat but revenue slight miss — Raymond James reported $2.83 EPS vs. $2.76 expected and $3.86B revenue (below $3.92B est.), with revenue up 13.4% year-over-year; the company has a $30.44B market cap and a P/E of 14.6.
• Quarterly dividend of $0.54 was paid (annualized $2.16, yield 1.4%, payout ratio 20.42%), an insider sold ~29,551 shares for ~$4.2M, and analysts maintain a consensus "Hold" with an average price target of $173.17.

Concurrent Investment Advisors LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 56.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,827 shares of the financial services provider's stock after purchasing an additional 8,261 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Raymond James Financial were worth $3,666,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RJF. West Branch Capital LLC acquired a new position in Raymond James Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Raymond James Financial in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the fourth quarter worth $32,000. Quent Capital LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Finally, Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $154.44 on Tuesday. Raymond James Financial, Inc. has a 12-month low of $133.89 and a 12-month high of $177.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The firm's fifty day moving average price is $149.80 and its 200 day moving average price is $158.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 18.01%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. On average, research analysts forecast that Raymond James Financial, Inc. will post 11.68 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial's dividend payout ratio is currently 20.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RJF. TD Cowen reaffirmed a "hold" rating and set a $159.00 price target (up from $156.00) on shares of Raymond James Financial in a research report on Thursday. BMO Capital Markets boosted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Barclays reaffirmed an "overweight" rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday. Weiss Ratings upgraded Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Finally, Morgan Stanley dropped their target price on Raymond James Financial from $187.00 to $171.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $173.17.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's 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 completion of the sale, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by company insiders.

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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