Parametric Portfolio Associates LLC lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 16.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,570 shares of the financial services provider’s stock after purchasing an additional 26,631 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.13% of Raymond James Financial worth $15,288,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Raymond James Financial by 13.2% in the first quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock valued at $68,554,000 after acquiring an additional 105,145 shares during the last quarter. Bank of Nova Scotia acquired a new position in Raymond James Financial in the first quarter valued at $2,243,000. Greenwood Capital Associates LLC acquired a new position in Raymond James Financial in the second quarter valued at $300,000. Alliancebernstein L.P. boosted its holdings in Raymond James Financial by 132.5% in the first quarter. Alliancebernstein L.P. now owns 240,437 shares of the financial services provider’s stock valued at $18,336,000 after acquiring an additional 137,022 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Raymond James Financial by 16.1% in the second quarter. Principal Financial Group Inc. now owns 360,741 shares of the financial services provider’s stock valued at $28,938,000 after acquiring an additional 50,132 shares during the last quarter. Institutional investors and hedge funds own 70.02% of the company’s stock.
A number of research analysts recently weighed in on RJF shares. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Instinet reiterated a “buy” rating and issued a $90.00 target price (up previously from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura lifted their target price on Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Buckingham Research reiterated a “buy” rating and issued a $94.00 target price (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $89.33.
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at $3,107,201.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares in the company, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
Raymond James Financial, Inc. (RJF) opened at 86.27 on Friday. The company has a 50-day moving average price of $80.40 and a 200-day moving average price of $78.25. The firm has a market cap of $12.40 billion, a PE ratio of 20.52 and a beta of 1.67. Raymond James Financial, Inc. has a one year low of $56.61 and a one year high of $87.22.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Equities analysts predict that Raymond James Financial, Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James Financial’s dividend payout ratio is presently 20.90%.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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