M&T Bank Corp grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,982 shares of the financial services provider’s stock after purchasing an additional 262 shares during the quarter. M&T Bank Corp’s holdings in Raymond James Financial were worth $801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Raymond James Financial by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock worth $1,034,139,000 after purchasing an additional 319,457 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Raymond James Financial by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,461,795 shares of the financial services provider’s stock valued at $117,266,000 after purchasing an additional 10,794 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Raymond James Financial by 42.8% during the 2nd quarter. GSA Capital Partners LLP now owns 5,158 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 1,545 shares during the last quarter. Menta Capital LLC lifted its holdings in shares of Raymond James Financial by 49.3% during the 2nd quarter. Menta Capital LLC now owns 10,300 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 3,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Raymond James Financial by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 448,892 shares of the financial services provider’s stock valued at $36,010,000 after purchasing an additional 43,379 shares during the last quarter. 70.02% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by insiders.

RJF has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 price objective (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research report on Monday, June 26th. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Buckingham Research reiterated a “buy” rating and issued a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Finally, Nomura increased their price target on Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $89.33.

COPYRIGHT VIOLATION WARNING: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/10/04/raymond-james-financial-inc-rjf-holdings-raised-by-mt-bank-corp.html.

Raymond James Financial, Inc. (RJF) opened at 85.79 on Wednesday. The firm has a 50 day moving average of $79.84 and a 200-day moving average of $78.08. The stock has a market cap of $12.33 billion, a PE ratio of 20.40 and a beta of 1.67. Raymond James Financial, Inc. has a 12-month low of $56.61 and a 12-month high of $86.18.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. On average, analysts expect that Raymond James Financial, Inc. will post $5.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.03%. Raymond James Financial’s dividend payout ratio is presently 20.90%.

About Raymond James Financial

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.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

Receive News & Stock Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related stocks with our FREE daily email newsletter.