Legal & General Group Plc boosted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 618,082 shares of the financial services provider’s stock after buying an additional 18,233 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of Raymond James Financial worth $52,124,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC lifted its position in Raymond James Financial by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after buying an additional 66 shares in the last quarter. Burt Wealth Advisors purchased a new stake in Raymond James Financial in the 2nd quarter worth approximately $150,000. Noesis Capital Mangement Corp purchased a new stake in Raymond James Financial in the 3rd quarter worth approximately $210,000. Pacer Advisors Inc. lifted its position in Raymond James Financial by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after buying an additional 206 shares in the last quarter. Finally, FNY Partners Fund LP lifted its position in Raymond James Financial by 3,103.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock worth $240,000 after buying an additional 3,103 shares in the last quarter. Institutional investors own 69.86% of the company’s stock.
Raymond James Financial, Inc. (RJF) traded down $1.79 during trading hours on Wednesday, reaching $88.32. 699,300 shares of the company were exchanged, compared to its average volume of 784,133. Raymond James Financial, Inc. has a 1-year low of $68.97 and a 1-year high of $91.29. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $13,011.93, a price-to-earnings ratio of 17.74, a PEG ratio of 0.90 and a beta of 1.71.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.32%.
A number of research analysts have recently weighed in on RJF shares. Zacks Investment Research downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a report on Tuesday, August 29th. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $86.00 to $90.00 in a report on Thursday, September 14th. Buckingham Research raised their price target on shares of Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Credit Suisse Group started coverage on shares of Raymond James Financial in a report on Thursday, November 30th. They set an “underperform” rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Raymond James Financial has an average rating of “Buy” and an average price target of $88.57.
In other Raymond James Financial news, CEO Steven M. Raney sold 9,890 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $88.95, for a total value of $879,715.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jennifer C. Ackart sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the completion of the sale, the senior vice president now owns 12,409 shares in the company, valued at $1,107,255.07. The disclosure for this sale can be found here. Insiders sold a total of 280,812 shares of company stock worth $24,145,735 over 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.
Receive News & Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.