Vest Financial LLC Takes $29.11 Million Position in Raymond James (NYSE:RJF)

Vest Financial LLC purchased a new stake in Raymond James (NYSE:RJF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 209,571 shares of the financial services provider's stock, valued at approximately $29,112,000. Vest Financial LLC owned 0.10% of Raymond James as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its position in shares of Raymond James by 176.7% in the fourth 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. acquired a new position in Raymond James in the 1st quarter valued at $25,000. Y.D. More Investments Ltd raised its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Raymond James by 56.7% in the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Stock Performance

Shares of RJF traded up $3.42 during midday trading on Friday, reaching $146.83. The stock had a trading volume of 1,169,628 shares, compared to its average volume of 1,322,498. The firm has a 50 day simple moving average of $140.58 and a 200-day simple moving average of $151.63. Raymond James has a one year low of $104.24 and a one year high of $174.32. The firm has a market cap of $29.62 billion, a PE ratio of 14.33, a P/E/G ratio of 0.90 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) 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 analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. As a group, sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's payout ratio is presently 19.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cowen reaffirmed a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective 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. Bank of America lowered shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $175.00 price objective on shares of Raymond James in a report on Thursday, April 24th. Eleven equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $153.82.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated 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 directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider now owns 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Raymond James Company 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.