Raymond James Financial, Inc. $RJF Shares Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management sharply increased its stake in Raymond James Financial, boosting holdings by 728.9% in Q4 to 12,458 shares worth about $2.0 million.
• Raymond James reported better-than-expected earnings of $2.83 per share for the quarter, while revenue rose 13.4% year over year to $3.86 billion.
• The company also declared a quarterly dividend of $0.54 per share, and analysts currently rate the stock a consensus Hold with an average target price of $172.92.

Jupiter Asset Management Ltd. boosted its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 728.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,458 shares of the financial services provider's stock after purchasing an additional 10,955 shares during the period. Jupiter Asset Management Ltd.'s holdings in Raymond James Financial were worth $2,001,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.58% of the company's stock.

Raymond James Financial Price Performance

RJF opened at $143.30 on Friday. The stock has a fifty day moving average of $149.83 and a 200-day moving average of $157.13. The firm has a market capitalization of $27.93 billion, a P/E ratio of 13.54, a PEG ratio of 1.10 and a beta of 0.99. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business posted $2.42 earnings per share. Raymond James Financial's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts forecast that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. Raymond James Financial's dividend payout ratio is 20.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RJF shares. UBS Group reiterated 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. BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Barclays reiterated 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. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $172.92.

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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