Fisher Asset Management LLC Has $63.06 Million Holdings in Raymond James Financial, Inc. $RJF

Fisher Asset Management LLC boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 392,663 shares of the financial services provider’s stock after purchasing an additional 25,410 shares during the quarter. Fisher Asset Management LLC’s holdings in Raymond James Financial were worth $63,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its holdings in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares during the period. Meridian Wealth Advisors LLC raised its holdings in Raymond James Financial by 0.6% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after buying an additional 62 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 68 shares during the period. Finally, Bridgewater Advisors Inc. increased its holdings in shares of Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RJF. UBS Group reiterated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets upped their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Barclays reiterated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley upped their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.25.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.0%

Shares of NYSE RJF opened at $151.48 on Tuesday. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.99. The business has a 50 day simple moving average of $149.70 and a 200 day simple moving average of $157.53. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate 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 posted $2.42 EPS. On average, research analysts predict that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

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.