Raymond James (NYSE:RJF) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Raymond James (NYSE:RJF) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,979 shares of the financial services provider’s stock after buying an additional 3,035 shares during the period. Assenagon Asset Management S.A.’s holdings in Raymond James were worth $3,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James during the first quarter worth $25,000. TCTC Holdings LLC raised its holdings in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares during the last quarter. Covestor Ltd raised its holdings in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Raymond James during the fourth quarter worth $53,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Down 2.1%

RJF stock opened at $145.48 on Monday. The stock has a market capitalization of $29.35 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.90 and a beta of 1.03. The firm has a 50-day simple moving average of $142.57 and a 200-day simple moving average of $150.62. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. Equities analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. Raymond James’s payout ratio is presently 19.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RJF shares. Bank of America cut shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. Morgan Stanley lifted their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Citigroup cut their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average price target of $153.82.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider now directly owns 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Raymond James Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.