Vest Financial LLC Raises Stock Holdings in Raymond James Financial, Inc. $RJF

Vest Financial LLC raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,088 shares of the financial services provider’s stock after purchasing an additional 5,822 shares during the period. Vest Financial LLC’s holdings in Raymond James Financial were worth $51,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. West Branch Capital LLC purchased a new stake in shares of Raymond James Financial during the third quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $31,000. Quent Capital LLC acquired a new stake in Raymond James Financial in the third quarter valued at approximately $33,000. Princeton Global Asset Management LLC grew its holdings in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Raymond James Financial during the third quarter worth $50,000. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $170.84 on Wednesday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The business’s fifty day simple moving average is $162.69 and its 200-day simple moving average is $164.18. The firm has a market cap of $33.74 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.Raymond James Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.95 EPS. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.54 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, January 2nd. Raymond James Financial’s dividend payout ratio is currently 20.99%.

Wall Street Analyst Weigh In

RJF has been the topic of several research analyst reports. JMP Securities upped their target price on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. BMO Capital Markets raised their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, TD Cowen boosted their price objective on Raymond James Financial from $180.00 to $187.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $181.36.

About Raymond James Financial

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.