Algebris UK Ltd. Invests $10.18 Million in Raymond James Financial, Inc. $RJF

Algebris UK Ltd. bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the 4th quarter, HoldingsChannel.com reports. The fund bought 63,355 shares of the financial services provider’s stock, valued at approximately $10,179,000.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 230,871 shares in the last quarter. First Trust Advisors LP raised its position 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 worth $448,332,000 after purchasing an additional 111,950 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $406,941,000 after purchasing an additional 227,337 shares in the last quarter. Sei Investments Co. raised its position 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 worth $160,968,000 after purchasing an additional 25,018 shares in the last quarter. Finally, UBS Group AG raised its position 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 worth $135,194,000 after purchasing an additional 227,781 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RJF. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. UBS Group reaffirmed a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley raised 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 report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.25.

Raymond James Financial Price Performance

RJF stock opened at $152.13 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The company has a market capitalization of $29.65 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The company’s fifty day moving average price is $149.47 and its 200-day moving average price is $157.69.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s 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 transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

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.