Raymond James Financial, Inc. $RJF Stock Position Increased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 77.3% in the fourth quarter, HoldingsChannel reports. The firm owned 11,665 shares of the financial services provider’s stock after acquiring an additional 5,087 shares during the period. Fairtree Asset Management Pty Ltd’s holdings in Raymond James Financial were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Muirfield Wealth Advisors LLC increased its position in Raymond James Financial by 4.8% in the 4th quarter. Muirfield Wealth Advisors LLC now owns 7,090 shares of the financial services provider’s stock valued at $1,139,000 after acquiring an additional 323 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Raymond James Financial during the fourth quarter valued at $11,208,000. Handelsbanken Fonder AB raised its stake in shares of Raymond James Financial by 29.0% during the fourth quarter. Handelsbanken Fonder AB now owns 70,678 shares of the financial services provider’s stock valued at $11,350,000 after purchasing an additional 15,895 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Raymond James Financial by 5.6% in the fourth quarter. ProShare Advisors LLC now owns 38,811 shares of the financial services provider’s stock worth $6,233,000 after purchasing an additional 2,047 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Raymond James Financial by 12.2% in the fourth quarter. HighTower Advisors LLC now owns 19,565 shares of the financial services provider’s stock worth $3,142,000 after purchasing an additional 2,130 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. TD Cowen reiterated a “hold” rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, BMO Capital Markets increased their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $173.25.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $151.16 on Wednesday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $149.45 and a two-hundred day moving average of $157.73. The company has a market capitalization of $29.46 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.18 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts expect that Raymond James Financial, Inc. will post 11.83 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. Shareholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s payout ratio is 20.42%.

Insider Activity

In other Raymond James Financial 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 value of $4,206,289.34. Following the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.