Raymond James Financial, Inc. $RJF Shares Bought by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its stake in Raymond James Financial by 6.9% in Q4, buying 25,410 more shares and bringing its total to 392,663 shares valued at about $63.1 million.
• Raymond James Financial reported better-than-expected EPS of $2.83 in its latest quarter, though revenue of $3.86 billion came in slightly below estimates. Revenue still rose 13.4% year over year.
• The company declared a quarterly dividend of $0.54 per share, equal to an annualized yield of 1.4%, while analysts currently rate the stock a consensus Hold with an average price target of $173.25.

Fisher Asset Management LLC grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 392,663 shares of the financial services provider's stock after acquiring an additional 25,410 shares during the quarter. Fisher Asset Management LLC owned about 0.20% of Raymond James Financial worth $63,058,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Anfield Capital Management LLC acquired a new stake in Raymond James Financial in the third quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the fourth quarter worth about $32,000. Harbor Investment Advisory LLC lifted its holdings in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the period. Salomon & Ludwin LLC lifted its holdings in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new stake in Raymond James Financial in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $151.48 on Tuesday. 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 company's 50-day moving average price is $149.70 and its two-hundred day moving average price is $157.53. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The stock has a market cap of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the business earned $2.42 earnings per share. Raymond James Financial's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared 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 is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial's payout ratio is 20.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Jefferies Financial Group reduced 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. Morgan Stanley upped 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. Finally, UBS Group reaffirmed a "neutral" rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four 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 company presently has an average rating of "Hold" and an average price target of $173.25.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were 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 in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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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