Dimensional Fund Advisors LP Increases Stock Holdings in Raymond James Financial, Inc. $RJF

Dimensional Fund Advisors LP boosted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,357,328 shares of the financial services provider’s stock after buying an additional 227,337 shares during the period. Dimensional Fund Advisors LP owned approximately 1.18% of Raymond James Financial worth $406,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. West Branch Capital LLC acquired a new position in shares of Raymond James Financial during the third quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in Raymond James Financial during the 3rd quarter worth approximately $31,000. Quent Capital LLC acquired a new position in Raymond James Financial during the 3rd quarter valued at approximately $33,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the third quarter worth $33,000. Finally, Clearstead Trust LLC lifted its stake in shares of Raymond James Financial by 174.0% during the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock worth $49,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 1.6%

Raymond James Financial stock opened at $156.22 on Thursday. The firm has a market cap of $30.79 billion, a PE ratio of 15.29, a P/E/G ratio of 1.14 and a beta of 1.00. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The stock’s 50 day simple moving average is $164.27 and its two-hundred day simple moving average is $164.08. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $2.93 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, April 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 21.14%.

Analysts Set New Price Targets

RJF has been the topic of several research reports. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Bank of America upped their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Finally, Barclays started coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target for the company. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $182.17.

Insider Activity at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by company insiders.

Raymond James Financial 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.