Sumitomo Mitsui Trust Group Inc. increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 468,343 shares of the financial services provider's stock after purchasing an additional 3,691 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Raymond James Financial worth $65,058,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in RJF. TCTC Holdings LLC lifted its holdings in Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after buying an additional 106 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the 1st quarter valued at about $25,000. Alpine Bank Wealth Management bought a new stake in Raymond James Financial during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its holdings in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after buying an additional 123 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in Raymond James Financial by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after buying an additional 217 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley boosted their price target on shares of Raymond James Financial from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Citigroup reduced their price target on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $153.82.
Get Our Latest Analysis on RJF
Insider Activity 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 that occurred 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 owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, 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. 0.54% of the stock is currently owned by insiders.
Raymond James Financial Stock Up 0.8%
Shares of NYSE RJF traded up $1.21 during trading hours on Tuesday, hitting $154.58. 919,456 shares of the stock were exchanged, compared to its average volume of 1,323,888. 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 company has a market cap of $31.19 billion, a PE ratio of 14.88, a PEG ratio of 1.84 and a beta of 1.03. The firm has a fifty day moving average price of $146.32 and a 200-day moving average price of $149.59. 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 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The company's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 EPS. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.
Raymond James Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial's dividend payout ratio is presently 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.
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