Candriam Luxembourg S.C.A. acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel reports. The fund acquired 109,860 shares of the financial services provider’s stock, valued at approximately $8,813,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Raymond James Financial during the fourth quarter worth $4,141,000. UBS Asset Management Americas Inc. boosted its stake in Raymond James Financial by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 370,813 shares of the financial services provider’s stock worth $25,686,000 after buying an additional 25,473 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in Raymond James Financial during the first quarter worth $8,407,000. Exxonmobil Investment Management Inc. TX purchased a new stake in Raymond James Financial during the first quarter worth $2,166,000. Finally, Gulf International Bank UK Ltd boosted its stake in Raymond James Financial by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 39,447 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 300 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.
Raymond James Financial, Inc. (NYSE:RJF) opened at 82.90 on Friday. The firm’s 50-day moving average is $81.09 and its 200 day moving average is $77.11. The firm has a market cap of $11.91 billion, a PE ratio of 19.72 and a beta of 1.65. Raymond James Financial, Inc. has a 1-year low of $53.56 and a 1-year high of $85.97.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.57%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, equities analysts forecast that Raymond James Financial, Inc. will post $5.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.88 annualized dividend and a yield of 1.06%. Raymond James Financial’s dividend payout ratio (DPR) is 20.90%.
A number of analysts recently weighed in on RJF shares. Nomura reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Raymond James Financial in a report on Sunday, April 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a report on Wednesday, May 24th. Instinet dropped their price objective on shares of Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $85.00 price objective (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, BidaskClub raised shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Raymond James Financial currently has an average rating of “Buy” and a consensus target price of $87.50.
In related news, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan N. Santelli sold 1,880 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the transaction, the executive vice president now owns 3,000 shares in the company, valued at approximately $219,900. The disclosure for this sale can be found here. 11.18% of the stock is owned by corporate insiders.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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