abrdn plc Purchases 32,374 Shares of Raymond James (NYSE:RJF)

abrdn plc increased its position in Raymond James (NYSE:RJF) by 66.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,266 shares of the financial services provider’s stock after purchasing an additional 32,374 shares during the period. abrdn plc’s holdings in Raymond James were worth $9,061,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Steph & Co. raised its position in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after buying an additional 91 shares during the last quarter. Federated Hermes Inc. raised its position in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after buying an additional 96 shares during the last quarter. Addison Advisors LLC raised its position in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. SVB Wealth LLC raised its position in Raymond James by 5.6% in the 3rd quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock worth $206,000 after buying an additional 108 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its position in Raymond James by 3.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after buying an additional 118 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 0.1 %

Raymond James stock opened at $121.86 on Friday. The firm has a 50 day moving average of $123.10 and a 200 day moving average of $112.50. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.85 and a beta of 1.05. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Raymond James will post 9.45 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James’s payout ratio is 21.77%.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $116.00 price target (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Bank of America reduced their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup upped their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, TD Cowen reduced their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $126.22.

Insiders Place Their Bets

In other Raymond James news, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James 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.