Saudi Central Bank Has $1.89 Million Stake in Raymond James Financial, Inc. $RJF

Saudi Central Bank raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 79.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,417 shares of the financial services provider’s stock after purchasing an additional 5,493 shares during the quarter. Saudi Central Bank’s holdings in Raymond James Financial were worth $1,888,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RJF. Reflection Asset Management acquired a new stake in Raymond James Financial during the fourth quarter worth about $28,000. Hilton Head Capital Partners LLC acquired a new position in Raymond James Financial in the 4th quarter valued at approximately $35,000. Jones Financial Companies Lllp acquired a new position in Raymond James Financial in the 2nd quarter valued at approximately $36,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares during the period. Finally, Clearstead Trust LLC acquired a new stake in shares of Raymond James Financial during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction dated 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 completion of the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bella Allaire sold 7,500 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the transaction, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 23,270 shares of company stock worth $4,090,637. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.2%

Shares of RJF opened at $178.69 on Tuesday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $173.17 and a 200-day simple moving average of $158.81. The stock has a market cap of $34.37 billion, a PE ratio of 15.58, a PEG ratio of 1.09 and a beta of 0.91.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the company earned $2.18 EPS. Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts predict that Raymond James Financial, Inc. will post 12.08 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

Analyst Ratings Changes

RJF has been the topic of a number of research reports. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Truist Financial set a $188.00 price target on shares of Raymond James Financial and gave the stock a “hold” rating in a research note on Tuesday, September 1st. TD Cowen lowered their price target on shares of Raymond James Financial from $161.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, September 1st. Finally, Barclays increased their price objective 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 nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $181.46.

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.