Capstone Investment Advisors LLC Purchases New Shares in Raymond James Financial, Inc. $RJF

Capstone Investment Advisors LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,482 shares of the financial services provider’s stock, valued at approximately $681,000.

A number of other hedge funds have also bought and sold shares of RJF. Corient Private Wealth LP bought a new position in Raymond James Financial during the second quarter valued at $4,345,000. Bank of America Corp DE bought a new stake in shares of Raymond James Financial in the 2nd quarter worth about $360,592,000. Basswood Capital Management L.L.C. purchased a new position in shares of Raymond James Financial during the 2nd quarter worth about $16,502,000. Caisse de depot et placement du Quebec purchased a new position in shares of Raymond James Financial during the 2nd quarter worth about $34,418,000. Finally, Man Group plc bought a new position in Raymond James Financial during the 2nd quarter valued at about $6,939,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RJF. Argus increased their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, Citizens Jmp boosted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Trading Up 1.9%

Shares of RJF opened at $179.50 on Friday. The firm has a market capitalization of $34.53 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73. The company has a 50-day moving average of $170.25 and a 200 day moving average of $158.11.

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

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is 18.83%.

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.