Klein Pavlis & Peasley Financial Inc. Invests $1.10 Million in Raymond James Financial, Inc. $RJF

Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,832 shares of the financial services provider’s stock, valued at approximately $1,097,000.

Several other institutional investors also recently bought and sold shares of RJF. Thrivent Financial for Lutherans grew its position in shares of Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Raymond James Financial by 28.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after buying an additional 6,953 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of Raymond James Financial by 2,000.9% in the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after buying an additional 4,342 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Raymond James Financial by 24.6% during the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after buying an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Raymond James Financial during the third quarter valued at approximately $1,487,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Price Performance

RJF stock opened at $141.33 on Friday. The stock has a market cap of $27.85 billion, a PE ratio of 13.83, a P/E/G ratio of 1.05 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 50-day moving average price of $157.33 and a 200 day moving average price of $161.68. 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 posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for 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 for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 EPS. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued 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 is presently 21.14%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their price target on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Finally, UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus price target of $182.17.

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.