Rakuten Investment Management Inc. Invests $4.26 Million in Raymond James Financial, Inc. $RJF

Rakuten Investment Management Inc. bought a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,595 shares of the financial services provider’s stock, valued at approximately $4,263,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in Raymond James Financial in the 4th quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial during the fourth quarter worth about $35,000. Jones Financial Companies Lllp purchased a new stake in shares of Raymond James Financial in the second quarter worth about $36,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after buying an additional 228 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of Raymond James Financial in the second quarter valued at about $40,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. Argus boosted their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. Citizens Jmp lifted their price objective 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. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Barclays upped their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $181.00.

Insider Buying and Selling

In related news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Trading Up 0.1%

NYSE:RJF opened at $179.50 on Monday. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The business’s 50-day simple moving average is $170.25 and its 200 day simple moving average is $157.99.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm earned $2.18 EPS. Raymond James Financial’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.54 per share. 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 is 18.83%.

Raymond James Financial Company 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.