Systematic Financial Management LP Boosts Holdings in Raymond James Financial, Inc. $RJF

Systematic Financial Management LP raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 17.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,351 shares of the financial services provider’s stock after acquiring an additional 4,350 shares during the period. Systematic Financial Management LP’s holdings in Raymond James Financial were worth $4,713,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Raymond James Financial by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock valued at $1,009,342,000 after purchasing an additional 230,871 shares during the last quarter. First Trust Advisors LP boosted its holdings in Raymond James Financial by 4.5% in the third quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock valued at $448,332,000 after purchasing an additional 111,950 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Raymond James Financial by 10.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock valued at $406,941,000 after purchasing an additional 227,337 shares during the last quarter. Sei Investments Co. boosted its holdings in Raymond James Financial by 2.8% in the third quarter. Sei Investments Co. now owns 932,602 shares of the financial services provider’s stock valued at $160,968,000 after purchasing an additional 25,018 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Raymond James Financial by 37.1% in the fourth quarter. UBS Group AG now owns 841,859 shares of the financial services provider’s stock valued at $135,194,000 after purchasing an additional 227,781 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RJF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Morgan Stanley upped their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, TD Cowen reiterated a “hold” rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $173.25.

Raymond James Financial Stock Up 0.0%

RJF opened at $151.48 on Monday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $149.56 and a 200 day moving average price of $157.58. The company has a market cap of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend 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 20.42%.

About Raymond James Financial

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.