Impact Partnership Wealth LLC Buys New Stake in Raymond James Financial, Inc. (NYSE:RJF)

Impact Partnership Wealth LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,719 shares of the financial services provider’s stock, valued at approximately $517,000.

A number of other large investors also recently made changes to their positions in the business. D.A. Davidson & CO. grew its stake in shares of Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 197 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after buying an additional 123 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Raymond James Financial in the 4th quarter worth approximately $9,366,000. Assenagon Asset Management S.A. grew its position in shares of Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock worth $3,470,000 after acquiring an additional 3,035 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock worth $65,058,000 after acquiring an additional 3,691 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated 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 approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF traded up $1.14 during trading hours on Friday, reaching $160.62. 1,143,705 shares of the company traded hands, compared to its average volume of 1,295,713. The stock has a market cap of $32.41 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The stock’s fifty day moving average is $151.57 and its 200 day moving average is $149.90. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04.

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

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James Financial’s dividend payout ratio is currently 19.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RJF shares. Wells Fargo & Company lifted their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Monday. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. 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 research note on Tuesday, July 8th. Finally, Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $162.40.

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.