WINTON GROUP Ltd Takes $6.31 Million Position in Raymond James Financial, Inc. $RJF

Key Points

• WINTON GROUP Ltd initiated a new position in Raymond James Financial, buying 39,278 shares worth about $6.31 million in the fourth quarter.
• Raymond James recently posted strong quarterly results, with EPS of $2.83 beating estimates, though revenue of $3.86 billion came in slightly below expectations.
• The company declared a quarterly dividend of $0.54 per share, and analysts currently have a consensus rating of Hold with an average price target of $172.92.

WINTON GROUP Ltd purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,278 shares of the financial services provider's stock, valued at approximately $6,308,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the fourth quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in Raymond James Financial in the third quarter worth approximately $33,000. Harbor Investment Advisory LLC raised its stake in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after buying an additional 172 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after buying an additional 65 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Raymond James Financial in the fourth quarter worth approximately $44,000. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen reduced their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group reduced their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Barclays reissued an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley boosted their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $172.92.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $151.48 on Friday. The business's fifty day simple moving average is $150.20 and its 200-day simple moving average is $156.64. The company has a market cap of $29.52 billion, a PE ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. Analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial's dividend payout ratio is presently 20.42%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company's stock.

Raymond James Financial Company 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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