Raymond James Financial, Inc. (NYSE:RJF) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 1,502.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,883,139 shares of the financial services provider's stock after buying an additional 1,765,588 shares during the quarter. Victory Capital Management Inc. owned about 0.92% of Raymond James Financial worth $261,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock worth $778,000 after purchasing an additional 197 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Raymond James Financial during the fourth quarter worth $9,366,000. Assenagon Asset Management S.A. raised its holdings in Raymond James Financial by 13.8% during the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after purchasing an additional 3,035 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after purchasing an additional 3,691 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider owned 78,227 shares of the company's stock, valued at $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's 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 sale, 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 position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Raymond James Financial Trading Up 0.9%

RJF stock traded up $1.36 during trading on Friday, reaching $160.84. 348,342 shares of the stock traded hands, compared to its average volume of 1,296,292. The business's 50 day moving average price is $151.27 and its 200-day moving average price is $149.86. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market capitalization of $32.45 billion, a PE ratio of 15.49, a P/E/G ratio of 1.29 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly 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). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. During the same period last year, the firm posted $2.31 EPS. Raymond James Financial's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Raymond James Financial from $143.00 to $151.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company boosted their price target on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of "Hold" and an average price target of $162.40.

Raymond James Financial 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.