Raymond James Financial, Inc. $RJF Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial, Inc. increased its stake in its own company by 10.7%, owning a total of 753,246 shares valued at approximately $104.6 million.
• Insider Bella Loykhter Allaire sold 6,570 shares at an average price of $146.61, reducing her ownership by 8.10% to 74,586 shares.
• Raymond James Financial reported $2.18 EPS for the last quarter, missing expectations by $0.18, while revenue increased by 5.3% year-over-year.

Raymond James Financial Inc. increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 753,246 shares of the financial services provider's stock after buying an additional 72,754 shares during the quarter. Raymond James Financial Inc. owned about 0.37% of Raymond James Financial worth $104,633,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial during the first quarter worth approximately $27,000. Golden State Wealth Management LLC increased its holdings in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares during the period. Olde Wealth Management LLC purchased a new stake in Raymond James Financial in the 1st quarter valued at $33,000. Finally, TCTC Holdings LLC boosted its stake in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

NYSE:RJF traded up $3.1490 during mid-day trading on Friday, reaching $165.1790. The stock had a trading volume of 677,938 shares, compared to its average volume of 901,746. Raymond James Financial, Inc. has a twelve month low of $113.91 and a twelve month high of $174.32. The business has a 50 day simple moving average of $159.87 and a 200 day simple moving average of $149.84. The firm has a market capitalization of $32.93 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the company posted $2.39 earnings per share. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on RJF. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight 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 $163.80.

Raymond James Financial Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.