Fox Run Management L.L.C. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,800 shares of the financial services provider’s stock, valued at approximately $225,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. Independent Portfolio Consultants Inc. boosted its position in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock valued at $138,000 after buying an additional 40 shares during the period. YorkBridge Wealth Partners LLC boosted its position in shares of Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after buying an additional 52 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Raymond James Financial by 4.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,608 shares of the financial services provider’s stock valued at $111,000 after buying an additional 67 shares during the period. ProShare Advisors LLC boosted its position in shares of Raymond James Financial by 0.6% in the first quarter. ProShare Advisors LLC now owns 29,433 shares of the financial services provider’s stock valued at $2,245,000 after buying an additional 173 shares during the period. Finally, Cardinal Capital Management boosted its position in shares of Raymond James Financial by 1.2% in the first quarter. Cardinal Capital Management now owns 17,023 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 196 shares during the period. 70.87% of the stock is owned by hedge funds and other institutional investors.
Shares of Raymond James Financial, Inc. (RJF) opened at 79.85 on Friday. Raymond James Financial, Inc. has a 12-month low of $55.42 and a 12-month high of $85.97. The firm has a market capitalization of $11.48 billion, a PE ratio of 19.00 and a beta of 1.65. The company’s 50-day moving average price is $81.82 and its 200 day moving average price is $77.50.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.57% and a net margin of 9.78%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Raymond James Financial, Inc. will post $5.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a $0.22 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.
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A number of analysts have recently issued reports on the company. Instinet cut their price objective on Raymond James Financial to $89.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research report on Wednesday, May 24th. Buckingham Research reaffirmed a “buy” rating and issued a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $85.00 price objective (up from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Finally, BidaskClub cut Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $87.50.
In related news, EVP Jonathan N. Santelli sold 1,880 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $73.30, for a total value of $137,804.00. Following the sale, the executive vice president now owns 3,000 shares in the company, valued at $219,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares in the company, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Insiders sold 38,880 shares of company stock worth $3,213,734 in the last quarter. 11.18% of the stock is currently owned by company insiders.
About Raymond James Financial
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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