Vinva Investment Management Ltd Acquires Shares of 15,519 Raymond James Financial, Inc. $RJF

Key Points

• Vinva Investment Management opened a new position in Raymond James by buying 15,519 shares (~$2.74M) in Q3, and institutional investors now own about 83.83% of the stock after several other funds increased their stakes.
• Insider Paul C. Reilly sold 130,687 shares on Dec. 15 at an average $163.15 (about $21.3M), cutting his position by 33.4%; corporate insiders now hold just 0.58% of the company.
• Analysts carry a consensus rating of "Hold" with a $182.17 target; Raymond James beat EPS expectations ($2.86) but missed revenue estimates, and declared a $0.54 quarterly dividend (1.4% yield).

Vinva Investment Management Ltd bought a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,519 shares of the financial services provider's stock, valued at approximately $2,738,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider's stock valued at $10,390,000 after purchasing an additional 14,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Raymond James Financial by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider's stock worth $5,402,000 after buying an additional 6,953 shares during the period. Plato Investment Management Ltd grew its stake in Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider's stock valued at $781,000 after buying an additional 4,342 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Raymond James Financial by 24.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider's stock valued at $10,195,000 after acquiring an additional 11,680 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Raymond James Financial during the third quarter worth $1,487,000. Institutional investors own 83.83% of the company's stock.

Insider Buying and Selling

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares of the company's stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Barclays started coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an "overweight" rating and a $191.00 price target on the stock. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a "neutral" rating in a research report on Thursday, December 11th. Weiss Ratings raised shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of Raymond James Financial in a report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $182.17.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $151.05 on Tuesday. The stock's 50-day simple moving average is $163.56 and its two-hundred day simple moving average is $163.87. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The firm has a market capitalization of $29.77 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.13 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $2.93 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial's payout ratio is presently 21.14%.

Raymond James Financial Profile

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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