Vinva Investment Management Ltd Buys New Shares in Raymond James Financial, Inc. $RJF

Vinva Investment Management Ltd purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,519 shares of the financial services provider’s stock, valued at approximately $2,738,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Branch Capital LLC bought a new position in shares of Raymond James Financial during the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial in the 3rd quarter worth approximately $31,000. Quent Capital LLC bought a new stake in Raymond James Financial in the 3rd quarter worth approximately $33,000. Anfield Capital Management LLC purchased a new stake in Raymond James Financial in the third quarter worth approximately $33,000. Finally, Clearstead Trust LLC grew its position in Raymond James Financial by 174.0% during the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 181 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RJF. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Bank of America increased their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Barclays began coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price on the stock. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Stock Down 0.7%

Shares of Raymond James Financial stock opened at $151.05 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.13 and a beta of 1.00. The company’s 50 day moving average price is $163.56 and its 200-day moving average price is $163.87.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 EPS. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 21.14%.

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.