Daiwa Securities Group Inc. Boosts Stock Position in Raymond James Financial, Inc. $RJF

Daiwa Securities Group Inc. boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,648 shares of the financial services provider’s stock after purchasing an additional 6,217 shares during the period. Daiwa Securities Group Inc.’s holdings in Raymond James Financial were worth $5,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State of Wyoming purchased a new position in Raymond James Financial in the fourth quarter worth $212,000. Lido Advisors LLC grew its holdings in Raymond James Financial by 2.5% during the fourth quarter. Lido Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 96 shares during the period. Johnson Financial Group LLC bought a new position in Raymond James Financial during the fourth quarter valued at $2,719,000. CIBC Asset Management Inc grew its holdings in Raymond James Financial by 61.5% during the fourth quarter. CIBC Asset Management Inc now owns 43,261 shares of the financial services provider’s stock valued at $6,947,000 after purchasing an additional 16,475 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Raymond James Financial by 22.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock valued at $192,987,000 after purchasing an additional 216,907 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Up 0.0%

Shares of RJF opened at $151.48 on Monday. The business’s 50-day moving average price is $150.20 and its 200-day moving average price is $156.65. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The stock has a market cap of $29.52 billion, a PE ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 0.94. 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 results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share 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 firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays reissued an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. TD Cowen reduced their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Finally, Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $172.92.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

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.