GHP Investment Advisors Inc. Makes New Investment in Raymond James Financial, Inc. (NYSE:RJF)

GHP Investment Advisors Inc. bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,532 shares of the financial services provider’s stock, valued at approximately $907,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Crestwood Advisors Group LLC raised its holdings in shares of Raymond James Financial by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 67 shares during the period. Formidable Asset Management LLC increased its holdings in shares of Raymond James Financial by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 67 shares during the period. Keybank National Association OH increased its holdings in shares of Raymond James Financial by 0.7% in the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock worth $1,747,000 after acquiring an additional 76 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 82 shares during the period. Finally, Private Trust Co. NA increased its holdings in shares of Raymond James Financial by 23.9% in the 4th quarter. Private Trust Co. NA now owns 487 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 94 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider now owns 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. 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 reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Raymond James Financial from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $153.82.

Raymond James Financial Stock Up 0.5%

Raymond James Financial stock opened at $151.69 on Thursday. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.81 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $145.09 and its two-hundred day moving average price is $149.91. Raymond James Financial, Inc. has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James Financial (NYSE:RJF) 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). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $2.31 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James Financial’s dividend payout ratio (DPR) is 19.25%.

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.