Vanguard Group Inc. Has $3.09 Billion Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Vanguard Group Inc. increased its stake in Raymond James Financial by 1.6% in Q1, owning 22.24 million shares worth approximately $3.09 billion.
• Insider Bella Loykhter Allaire sold 6,570 shares at an average price of $146.61, reducing her ownership in the company by 8.10%.
• Multiple analysts adjusted their price targets for Raymond James Financial, with Morgan Stanley raising their target from $136.00 to $180.00 while maintaining an "equal weight" rating.

Vanguard Group Inc. boosted its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,244,204 shares of the financial services provider's stock after buying an additional 347,916 shares during the quarter. Vanguard Group Inc. owned 10.86% of Raymond James Financial worth $3,089,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RJF. Formidable Asset Management LLC boosted its holdings in shares of Raymond James Financial by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 67 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Raymond James Financial by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 73 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Raymond James Financial by 9.0% during the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after acquiring an additional 82 shares during the period. Dynasty Wealth Management LLC lifted its holdings in Raymond James Financial by 4.9% in the first quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock worth $280,000 after purchasing an additional 94 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Raymond James Financial by 3.6% in the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock worth $398,000 after acquiring an additional 100 shares during the period. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JMP Securities upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Bank of America downgraded 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. Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Morgan Stanley upped their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James Financial has an average rating of "Hold" and an average price target of $163.80.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Raymond James Financial Stock Performance

RJF traded up $3.53 during trading on Tuesday, reaching $168.45. 615,974 shares of the company's stock were exchanged, compared to its average volume of 1,325,799. The company has a market capitalization of $33.58 billion, a P/E ratio of 16.51, a PEG ratio of 1.35 and a beta of 1.05. The business has a 50 day moving average price of $156.65 and a 200 day moving average price of $150.10. Raymond James Financial, Inc. has a fifty-two week low of $110.06 and a fifty-two week high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced 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). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.39 EPS. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's payout ratio is currently 19.61%.

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.