Versor Investments LP Invests $677,000 in Raymond James Financial, Inc. $RJF

Versor Investments LP purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,216 shares of the financial services provider’s stock, valued at approximately $677,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Great Valley Advisor Group Inc. boosted its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC boosted its stake in shares of Raymond James Financial by 0.6% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after buying an additional 62 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after buying an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after buying an additional 68 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its stake in shares of Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after buying an additional 68 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 Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets lifted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average target price of $173.25.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $154.00 on Thursday. The stock’s 50-day simple moving average is $149.51 and its 200-day simple moving average is $157.91. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The company has a market capitalization of $30.01 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.18 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

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.