17,181 Shares in Raymond James Financial, Inc. (NYSE:RJF) Acquired by Spectrum Wealth Counsel LLC

Spectrum Wealth Counsel LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,181 shares of the financial services provider’s stock, valued at approximately $2,387,000.

A number of other institutional investors and hedge funds have also modified their holdings of RJF. Norges Bank bought a new stake in shares of Raymond James Financial during the fourth quarter worth approximately $294,647,000. Victory Capital Management Inc. raised its stake in shares of Raymond James Financial by 1,502.0% during the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock worth $261,587,000 after buying an additional 1,765,588 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Raymond James Financial by 25,259.8% during the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock worth $93,740,000 after buying an additional 672,164 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of Raymond James Financial during the fourth quarter worth approximately $81,611,000. Finally, Northern Trust Corp raised its stake 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 worth $327,314,000 after buying an additional 327,739 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Transactions at Raymond James Financial

In related news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company’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 value of $963,227.70. Following the transaction, the insider directly 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 position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America cut Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. Wells Fargo & Company upped their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Monday, July 14th. Morgan Stanley upped their price target on Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group lowered 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. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $163.80.

Raymond James Financial Price Performance

NYSE RJF opened at $168.44 on Friday. The business has a 50 day simple moving average of $152.63 and a 200 day simple moving average of $150.05. Raymond James Financial, Inc. has a 52-week low of $104.24 and a 52-week 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. The stock has a market cap of $33.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.40 and a beta of 1.02.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company posted $2.39 earnings per share. Raymond James Financial’s revenue for the quarter was up 5.3% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Raymond James Financial’s dividend payout ratio is currently 19.61%.

Raymond James Financial 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.