Raymond James Financial, Inc. $RJF Shares Acquired by Franklin Resources Inc.

Key Points

• Franklin Resources increased its stake in Raymond James Financial by 11.7% in the fourth quarter, ending with 677,581 shares worth about $108.8 million.
• Raymond James Financial reported better-than-expected quarterly earnings of $2.83 per share, though revenue came in slightly below estimates at $3.86 billion.
• Analyst sentiment remains mixed, with several recent hold/neutral ratings and a consensus price target of $172.92; the stock recently traded around $150.86 and the company announced a quarterly dividend of $0.54 per share.

Franklin Resources Inc. boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 677,581 shares of the financial services provider's stock after purchasing an additional 70,849 shares during the period. Franklin Resources Inc. owned approximately 0.34% of Raymond James Financial worth $108,813,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RJF. Kingsview Wealth Management LLC grew its holdings in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider's stock worth $3,272,000 after acquiring an additional 17,407 shares in the last quarter. Algebris UK Ltd. acquired a new position in Raymond James Financial during the 4th quarter worth $10,179,000. Fisher Asset Management LLC grew its holdings in Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider's stock worth $63,058,000 after acquiring an additional 25,410 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Raymond James Financial by 139.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 89,267 shares of the financial services provider's stock worth $15,407,000 after acquiring an additional 51,928 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider's stock worth $17,343,000 after acquiring an additional 7,202 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a report on Monday, April 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Morgan Stanley raised their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. UBS Group reissued a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, TD Cowen decreased their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $172.92.

Raymond James Financial Trading Down 0.3%

NYSE RJF opened at $150.86 on Thursday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The company has a 50-day simple moving average of $150.72 and a 200-day simple moving average of $156.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market capitalization of $29.40 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. Raymond James Financial's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

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

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were 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 of the company's stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.58% of the company's stock.

Raymond James Financial Company 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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