Two Sigma Securities LLC Purchases New Position in Raymond James Financial, Inc. $RJF

Two Sigma Securities LLC acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, HoldingsChannel.com reports. The firm acquired 5,058 shares of the financial services provider’s stock, valued at approximately $769,000.

Several other institutional investors have also added to or reduced their stakes in RJF. Kingsview Wealth Management LLC boosted its position in shares of Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares during the last quarter. Algebris UK Ltd. purchased a new stake in shares of Raymond James Financial during the 4th quarter valued at about $10,179,000. Fisher Asset Management LLC boosted its holdings in shares of Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Swedbank AB grew its stake in shares of Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after acquiring an additional 9,838 shares during the period. Finally, Mizuho Markets Cayman LP bought a new stake in shares of Raymond James Financial in the fourth quarter worth approximately $5,347,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Trading Down 3.1%

Shares of NYSE:RJF opened at $172.65 on Wednesday. The stock has a 50 day moving average of $170.99 and a 200 day moving average of $158.23. The company has a market cap of $33.21 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $2.18 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is 18.83%.

Insider Transactions at Raymond James Financial

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,270 shares of company stock valued at $4,090,637 over the last three months. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RJF shares. Citizens Jmp increased their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Barclays boosted their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. TD Cowen dropped their price target on Raymond James Financial from $161.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Argus lifted their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Five research 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 company has a consensus rating of “Hold” and a consensus target price of $181.46.

Raymond James Financial Company 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.