Farther Finance Advisors LLC Increases Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Farther Finance Advisors LLC boosted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994 shares of the financial services provider’s stock after purchasing an additional 82 shares during the quarter. Farther Finance Advisors LLC’s holdings in Raymond James Financial were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vontobel Holding Ltd. boosted its holdings in Raymond James Financial by 31.6% in the fourth quarter. Vontobel Holding Ltd. now owns 3,212 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 772 shares in the last quarter. Principal Securities Inc. raised its position in shares of Raymond James Financial by 7.3% in the 4th quarter. Principal Securities Inc. now owns 2,092 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 142 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter worth about $625,000. Bryn Mawr Capital Management LLC purchased a new position in Raymond James Financial in the 4th quarter worth about $208,000. Finally, Ieq Capital LLC raised its position in Raymond James Financial by 57.6% in the 4th quarter. Ieq Capital LLC now owns 8,055 shares of the financial services provider’s stock worth $1,251,000 after buying an additional 2,944 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RJF. JPMorgan Chase & Co. cut their price target on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Bank of America cut Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley upped their price objective on Raymond James Financial from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Citigroup decreased their price objective on Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $153.82.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $148.92 on Friday. Raymond James Financial, Inc. has a 52 week low of $104.24 and a 52 week high of $174.32. The business’s fifty day simple moving average is $144.10 and its 200-day simple moving average is $150.20. The firm has a market cap of $30.05 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.78 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company earned $2.31 EPS. Raymond James Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.25%.

Insider Buying and Selling at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value 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. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider now owns 74,586 shares of the company’s stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Raymond James Financial Company 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.