Rakuten Investment Management Inc. Takes $11.94 Million Position in Raymond James Financial, Inc. $RJF

Rakuten Investment Management Inc. acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 69,194 shares of the financial services provider’s stock, valued at approximately $11,943,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC bought a new stake in shares of Raymond James Financial during the 3rd quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial during the third quarter worth approximately $31,000. Quent Capital LLC acquired a new stake in Raymond James Financial in the third quarter worth approximately $33,000. Princeton Global Asset Management LLC boosted its stake in Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Raymond James Financial during the 3rd quarter valued at $50,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF opened at $170.03 on Thursday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The company has a market capitalization of $33.57 billion, a PE ratio of 16.52, a PEG ratio of 1.08 and a beta of 0.99. The company’s 50 day moving average price is $162.78 and its 200 day moving average price is $164.22.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.95 earnings per share. Research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Bank of America boosted their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Finally, Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $181.36.

Insider Buying and Selling at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.58% of the company’s stock.

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.