Asset Management One Co. Ltd. increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,681 shares of the financial services provider’s stock after acquiring an additional 13,816 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Raymond James Financial worth $17,686,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC grew its position in Raymond James Financial by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 66 shares in the last quarter. Burt Wealth Advisors purchased a new position in Raymond James Financial in the second quarter worth about $150,000. Noesis Capital Mangement Corp purchased a new position in Raymond James Financial in the third quarter worth about $210,000. Pacer Advisors Inc. grew its position in Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 206 shares in the last quarter. Finally, FNY Partners Fund LP grew its position in Raymond James Financial by 3,103.0% in the second quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 3,103 shares in the last quarter. Institutional investors own 69.86% of the company’s stock.
Shares of Raymond James Financial, Inc. (NYSE:RJF) traded down $1.67 during trading hours on Thursday, hitting $87.86. The company’s stock had a trading volume of 832,200 shares, compared to its average volume of 779,795. Raymond James Financial, Inc. has a fifty-two week low of $68.97 and a fifty-two week high of $91.29. The stock has a market capitalization of $12,928.18, a price-to-earnings ratio of 17.62, a PEG ratio of 0.89 and a beta of 1.71. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s payout ratio is 20.32%.
Several research analysts recently commented on the company. Credit Suisse Group assumed coverage on Raymond James Financial in a research report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price target for the company. Buckingham Research lifted their price target on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Raymond James Financial currently has an average rating of “Buy” and an average target price of $88.57.
In related news, insider Tashtego S. Elwyn sold 8,997 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.17, for a total value of $766,274.49. Following the completion of the sale, the insider now owns 22,178 shares in the company, valued at $1,888,900.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The disclosure for this sale can be found here. Insiders have sold 305,017 shares of company stock valued at $26,295,553 in the last 90 days. Company insiders own 11.18% of the company’s stock.
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Raymond James Financial Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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