Stifel Financial Corp boosted its position in Raymond James (NYSE:RJF) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,703 shares of the financial services provider’s stock after buying an additional 2,403 shares during the quarter. Stifel Financial Corp’s holdings in Raymond James were worth $3,463,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in Raymond James by 14.2% in the 1st quarter. Russell Investments Group Ltd. now owns 115,642 shares of the financial services provider’s stock valued at $10,308,000 after buying an additional 14,414 shares during the last quarter. Lee Capital Management LP acquired a new stake in Raymond James in the 1st quarter valued at approximately $3,085,000. Buckingham Capital Management Inc. raised its position in Raymond James by 30.4% in the 1st quarter. Buckingham Capital Management Inc. now owns 3,766 shares of the financial services provider’s stock valued at $337,000 after buying an additional 878 shares during the last quarter. GWM Advisors LLC acquired a new stake in Raymond James in the 1st quarter valued at approximately $276,000. Finally, Hsbc Holdings PLC raised its position in Raymond James by 64.2% in the 1st quarter. Hsbc Holdings PLC now owns 222,205 shares of the financial services provider’s stock valued at $19,868,000 after buying an additional 86,872 shares during the last quarter. 71.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Jonathan N. Santelli sold 2,270 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $96.99, for a total transaction of $220,167.30. Following the transaction, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $290,970. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.46% of the stock is currently owned by corporate insiders.
Raymond James opened at $97.63 on Monday, Marketbeat Ratings reports. Raymond James has a twelve month low of $74.14 and a twelve month high of $102.17. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 0.85 and a beta of 1.63.
Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $1.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.63. Raymond James had a return on equity of 15.36% and a net margin of 10.52%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. research analysts forecast that Raymond James will post 6.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be paid a dividend of $0.30 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, June 29th. Raymond James’s dividend payout ratio is 19.12%.
A number of equities research analysts recently issued reports on RJF shares. ValuEngine raised Raymond James from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Wednesday, May 16th. Zacks Investment Research raised Raymond James from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, March 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $107.00 target price on shares of Raymond James in a research report on Monday, April 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Raymond James currently has an average rating of “Buy” and a consensus target price of $101.00.
Raymond James Profile
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.
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