Raymond James Financial, Inc. $RJF Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 50.0% during the third quarter, Holdings Channel.com reports. The firm owned 172,676 shares of the financial services provider’s stock after buying an additional 57,584 shares during the quarter. Korea Investment CORP’s holdings in Raymond James Financial were worth $29,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of Raymond James Financial in the 3rd quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter valued at approximately $31,000. Quent Capital LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter valued at approximately $33,000. Anfield Capital Management LLC acquired a new position in Raymond James Financial in the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC grew its position in Raymond James Financial by 174.0% in the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 181 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 0.7%

NYSE:RJF opened at $151.05 on Tuesday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The stock’s fifty day moving average is $163.56 and its two-hundred day moving average is $163.87. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. Research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s payout ratio is currently 21.14%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Barclays initiated coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. Finally, Bank of America upped their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus target price of $182.17.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

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.