EFG International AG Makes New $768,000 Investment in Raymond James Financial, Inc. $RJF

EFG International AG bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, HoldingsChannel.com reports. The firm bought 5,054 shares of the financial services provider’s stock, valued at approximately $768,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Raymond James Financial during the 2nd quarter worth approximately $2,180,699,000. Primecap Management Co. CA bought a new stake in Raymond James Financial in the second quarter valued at approximately $1,405,145,000. Norges Bank acquired a new stake in Raymond James Financial in the fourth quarter worth $324,263,000. Bank of New York Mellon Corp acquired a new stake in Raymond James Financial in the second quarter worth $182,254,000. Finally, Legal & General Group Plc bought a new position in shares of Raymond James Financial during the second quarter worth $181,811,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Citizens Jmp raised their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. TD Cowen reduced their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Barclays boosted their target price on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Stock Performance

Shares of RJF opened at $175.92 on Friday. The firm has a market cap of $33.84 billion, a P/E ratio of 15.34, a PEG ratio of 1.08 and a beta of 0.92. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm’s 50 day moving average price is $169.79 and its two-hundred day moving average price is $157.95.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is presently 18.83%.

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.