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

Key Points

• Natixis Advisors LLC increased its stake in Raymond James Financial by 4.3% in the fourth quarter, buying 13,591 additional shares and bringing its holding to 329,450 shares valued at about $52.9 million.
• Insiders and institutions showed mixed activity: Bella Loykhter Allaire sold 29,551 shares, while institutional ownership remains high at 83.83% of the company’s stock.
• Raymond James reported solid quarterly results and maintained a dividend, posting EPS of $2.83 versus the $2.76 estimate and announcing a quarterly dividend of $0.54 per share, yielding about 1.5% annually.

Natixis Advisors LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 329,450 shares of the financial services provider's stock after buying an additional 13,591 shares during the quarter. Natixis Advisors LLC owned approximately 0.17% of Raymond James Financial worth $52,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RJF. Norges Bank acquired a new position in shares of Raymond James Financial during the 4th quarter worth $324,263,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Raymond James Financial in the 3rd quarter valued at about $69,861,000. PFA Pension Forsikringsaktieselskab acquired a new position in Raymond James Financial in the 4th quarter valued at about $64,640,000. Balyasny Asset Management L.P. raised its stake in Raymond James Financial by 7,823.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider's stock valued at $49,809,000 after purchasing an additional 284,941 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Raymond James Financial by 44.9% in the 3rd quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider's stock valued at $135,171,000 after purchasing an additional 242,552 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on RJF shares. Jefferies Financial Group cut their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reissued a "neutral" rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. TD Cowen cut their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 28th. Finally, Morgan Stanley boosted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $172.92.

Raymond James Financial Stock Performance

RJF stock opened at $146.82 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $28.61 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.13 and a beta of 0.94. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The stock's 50 day simple moving average is $149.99 and its 200 day simple moving average is $156.74.

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

Raymond James Financial Dividend Announcement

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 given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

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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