Van ECK Associates Corp grew its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 141.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,307 shares of the financial services provider's stock after purchasing an additional 28,280 shares during the quarter. Van ECK Associates Corp's holdings in Raymond James Financial were worth $7,344,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in RJF. Kingsview Wealth Management LLC increased its position in shares of Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider's stock valued at $3,272,000 after acquiring an additional 17,407 shares during the last quarter. Algebris UK Ltd. acquired a new position in shares of Raymond James Financial in the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC boosted its position in shares of Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider's stock worth $63,058,000 after purchasing an additional 25,410 shares during the period. Swedbank AB boosted its position in shares of Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider's stock worth $6,654,000 after purchasing an additional 9,838 shares during the period. Finally, Mizuho Markets Cayman LP acquired a new stake in Raymond James Financial in the 4th quarter valued at approximately $5,347,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
RJF has been the subject of several research reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. Argus raised their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citizens Jmp lifted their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a report on Thursday, July 23rd. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five 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 stock presently has a consensus rating of "Hold" and a consensus target price of $181.46.
Check Out Our Latest Research Report on RJF
Insider Transactions at Raymond James Financial
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 7,500 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $177.60, for a total value of $1,332,000.00. Following the sale, the insider directly owned 46,086 shares in the company, valued at $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company's stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,270 shares of company stock valued at $4,090,637. Insiders own 0.58% of the company's stock.
Raymond James Financial Stock Performance
Shares of RJF opened at $172.65 on Wednesday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The stock has a market capitalization of $33.21 billion, a PE ratio of 15.05, a PEG ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The stock has a 50-day simple moving average of $170.99 and a 200-day simple moving average of $158.23.
Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 earnings per share. On average, analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.
Raymond James Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 18.83%.
Raymond James Financial Company Profile
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Free Report)
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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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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