LMG Wealth Partners LLC Buys 310 Shares of Raymond James Financial, Inc. (NYSE:RJF)

LMG Wealth Partners LLC lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 40,091 shares of the financial services provider’s stock after purchasing an additional 310 shares during the quarter. LMG Wealth Partners LLC’s holdings in Raymond James Financial were worth $5,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC raised its stake in Raymond James Financial by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after buying an additional 137,277 shares during the period. Geode Capital Management LLC grew its holdings in shares of Raymond James Financial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock valued at $680,378,000 after acquiring an additional 40,576 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of 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 valued at $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Raymond James Financial by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock valued at $324,390,000 after acquiring an additional 178,262 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

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

Raymond James Financial Trading Down 1.9%

NYSE RJF opened at $156.31 on Wednesday. The stock’s 50-day simple moving average is $150.73 and its two-hundred day simple moving average is $149.79. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32. 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 $31.54 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.32 and a beta of 1.02.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 19.25%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RJF. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $143.00 to $151.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Thursday, April 24th. Bank of America lowered Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective for the company. in a report on Wednesday, April 30th. Morgan Stanley increased their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, The Goldman Sachs Group reduced their price objective on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus target price of $162.40.

Raymond James Financial Company Profile

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.