Red Door Wealth Management LLC purchased a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,264 shares of the financial services provider's stock, valued at approximately $453,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of Raymond James Financial during the 4th quarter worth about $21,334,000. QRG Capital Management Inc. increased its holdings in Raymond James Financial by 2.4% in the fourth quarter. QRG Capital Management Inc. now owns 12,513 shares of the financial services provider's stock worth $1,944,000 after buying an additional 290 shares during the last quarter. Private Trust Co. NA raised its position in Raymond James Financial by 23.9% during the fourth quarter. Private Trust Co. NA now owns 487 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 94 shares in the last quarter. SVB Wealth LLC bought a new position in Raymond James Financial during the fourth quarter valued at approximately $254,000. Finally, Fisher Asset Management LLC lifted its stake in Raymond James Financial by 11.2% in the fourth quarter. Fisher Asset Management LLC now owns 498,925 shares of the financial services provider's stock valued at $77,498,000 after acquiring an additional 50,449 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $175.00 price objective on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $153.82.
Read Our Latest Research Report on Raymond James Financial
Insider Transactions at Raymond James Financial
In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider now owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider now owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.
Raymond James Financial Stock Performance
RJF opened at $153.24 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average price is $145.87 and its two-hundred day moving average price is $149.64. The firm has a market capitalization of $30.92 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. Raymond James Financial, Inc. has a 12-month low of $104.24 and a 12-month high of $174.32.
Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the company posted $2.31 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.
Raymond James Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.31%. Raymond James Financial's dividend payout ratio is 19.25%.
About Raymond James Financial
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).
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