WealthTrust Asset Management LLC Takes $1.17 Million Position in Raymond James Financial, Inc. (NYSE:RJF)

WealthTrust Asset Management LLC bought a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,452 shares of the financial services provider's stock, valued at approximately $1,174,000. Raymond James Financial accounts for about 0.9% of WealthTrust Asset Management LLC's portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC grew its position in shares of Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 106 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its position in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares during the period. Finally, Olde Wealth Management LLC bought a new position in Raymond James Financial in the 1st quarter worth approximately $33,000. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $158.49 on Friday. The firm's fifty day moving average price is $150.08 and its 200-day moving average price is $149.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market cap of $31.98 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 19.25%.

Insider Buying and Selling at Raymond James Financial

In related news, insider James E. Bunn sold 3,650 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on 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 directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents 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 company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RJF. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $143.00 to $151.00 and gave the stock a "neutral" rating in a report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $175.00 price objective on shares of Raymond James Financial in a report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Citigroup increased their target price on shares of Raymond James Financial from $150.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company increased their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $160.00.

About Raymond James Financial

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.

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