Assenagon Asset Management S.A. Purchases 3,035 Shares of Raymond James (NYSE:RJF)

Assenagon Asset Management S.A. raised its position in Raymond James (NYSE:RJF - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,979 shares of the financial services provider's stock after acquiring an additional 3,035 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Raymond James were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RJF. FMR LLC boosted its position in Raymond James by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after acquiring an additional 137,277 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Raymond James by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock valued at $680,378,000 after purchasing an additional 40,576 shares during the period. Earnest Partners LLC boosted its position in shares of Raymond James by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after purchasing an additional 24,195 shares in the last quarter. Invesco Ltd. grew its stake in Raymond James by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock worth $378,276,000 after purchasing an additional 192,904 shares during the period. Finally, Northern Trust Corp raised its holdings in Raymond James by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after purchasing an additional 327,739 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RJF. Morgan Stanley boosted their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Citigroup decreased their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $153.82.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider now directly owns 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Stock Up 1.9%

Shares of RJF stock traded up $2.77 during mid-day trading on Monday, hitting $148.39. The company's stock had a trading volume of 773,093 shares, compared to its average volume of 1,324,064. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The business has a 50-day moving average price of $142.57 and a 200 day moving average price of $150.62. The stock has a market cap of $29.94 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Raymond James's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.35%. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Raymond James 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.