Generali Asset Management SPA SGR Makes New Investment in Raymond James Financial, Inc. $RJF

Generali Asset Management SPA SGR bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,338 shares of the financial services provider’s stock, valued at approximately $1,981,000.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen restated a “hold” rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets raised their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Barclays restated an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $173.25.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the 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 sale, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.5%

Shares of NYSE RJF opened at $154.24 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $30.06 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The stock’s fifty day simple moving average is $149.76 and its two-hundred day simple moving average is $158.26. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for 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 business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. As a group, analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

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.