Empowered Funds LLC Purchases New Shares in Raymond James Financial, Inc. $RJF

Empowered Funds LLC acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,815 shares of the financial services provider’s stock, valued at approximately $2,699,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Raymond James Financial during the second quarter worth $2,180,699,000. Primecap Management Co. CA bought a new position in shares of Raymond James Financial in the second quarter valued at about $1,405,145,000. Bank of America Corp DE acquired a new position in Raymond James Financial during the 2nd quarter worth about $360,592,000. Norges Bank acquired a new position in Raymond James Financial during the 4th quarter worth about $324,263,000. Finally, Bank of New York Mellon Corp bought a new stake in Raymond James Financial during the 2nd quarter worth about $182,254,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 1.3%

Shares of NYSE RJF opened at $175.69 on Thursday. The company’s 50 day simple moving average is $171.41 and its 200 day simple moving average is $158.36. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73. The firm has a market capitalization of $33.80 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Analyst Ratings Changes

Several equities research analysts have weighed in on RJF shares. TD Cowen lowered their price objective on shares of Raymond James Financial from $161.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. Citizens Jmp increased their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five 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, the company presently has an average rating of “Hold” and an average price target of $181.46.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 7,500 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total value of $1,332,000.00. Following the completion of the sale, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the 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 transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,270 shares of company stock worth $4,090,637 in the last three months. Insiders own 0.58% of the company’s stock.

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.