Raymond James Financial, Inc. $RJF is Harfst & Associates Inc.’s Largest Position

Harfst & Associates Inc. increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,067,120 shares of the financial services provider’s stock after purchasing an additional 36,183 shares during the quarter. Raymond James Financial makes up about 30.9% of Harfst & Associates Inc.’s investment portfolio, making the stock its largest holding. Harfst & Associates Inc.’s holdings in Raymond James Financial were worth $171,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Norges Bank purchased a new position in shares of Raymond James Financial in the 4th quarter valued at approximately $324,263,000. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at approximately $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Raymond James Financial in the 4th quarter valued at approximately $64,640,000. Balyasny Asset Management L.P. lifted its stake in shares of Raymond James Financial by 7,823.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider’s stock valued at $49,809,000 after purchasing an additional 284,941 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Raymond James Financial by 44.9% in the 3rd quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider’s stock valued at $135,171,000 after purchasing an additional 242,552 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets raised their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. TD Cowen lowered their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group restated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.92.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The stock was 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 in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.8%

Shares of NYSE:RJF opened at $147.04 on Wednesday. The stock has a fifty day simple moving average of $149.89 and a two-hundred day simple moving average of $156.97. The stock has a market capitalization of $28.65 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.12 and a beta of 0.94. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial’s payout ratio is presently 20.42%.

Raymond James Financial Profile

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.