MQS Management LLC Makes New $527,000 Investment in Raymond James Financial, Inc. (NYSE:RJF)

MQS Management LLC acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, Holdings Channel.com reports. The firm acquired 3,791 shares of the financial services provider’s stock, valued at approximately $527,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Raymond James Financial by 2.2% during the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock valued at $1,013,066,000 after purchasing an additional 137,277 shares during the period. Geode Capital Management LLC increased its position in Raymond James Financial by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock valued at $680,378,000 after buying an additional 40,576 shares in the last quarter. Earnest Partners LLC boosted its holdings in Raymond James Financial by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock worth $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Invesco Ltd. grew its stake in Raymond James Financial by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock valued at $378,276,000 after acquiring an additional 192,904 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Raymond James Financial by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after acquiring an additional 327,739 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $158.49 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $31.98 billion, a PE ratio of 15.25, a PEG ratio of 1.31 and a beta of 1.02. The stock’s 50 day moving average price is $150.08 and its 200-day moving average price is $149.73. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Raymond James Financial’s dividend payout ratio (DPR) is presently 19.25%.

Analyst Ratings Changes

RJF has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $143.00 to $151.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Ten investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $160.00.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider directly owned 78,227 shares of the company’s stock, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.