Geneva Capital Management LLC Acquires 11,123 Shares of Raymond James Financial, Inc. $RJF

Geneva Capital Management LLC increased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 107,773 shares of the financial services provider’s stock after acquiring an additional 11,123 shares during the period. Geneva Capital Management LLC’s holdings in Raymond James Financial were worth $18,602,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. West Branch Capital LLC purchased a new stake in Raymond James Financial in the third quarter worth $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial in the third quarter worth about $31,000. Quent Capital LLC bought a new stake in Raymond James Financial during the 3rd quarter valued at about $33,000. Anfield Capital Management LLC bought a new stake in Raymond James Financial during the 3rd quarter valued at about $33,000. Finally, Clearstead Trust LLC boosted its position in Raymond James Financial by 174.0% in the 3rd quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock valued at $49,000 after buying an additional 181 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. Bank of America raised their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Finally, Barclays initiated coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Trading Down 0.2%

Shares of Raymond James Financial stock opened at $148.36 on Thursday. The firm’s 50 day simple moving average is $163.03 and its two-hundred day simple moving average is $163.65. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.10 and a beta of 1.00. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

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

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insider Activity

In related 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 transaction of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares of the company’s stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.

Raymond James Financial 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.