Brown Advisory Inc. Increases Stock Position in Raymond James Financial, Inc. (NYSE:RJF)

Brown Advisory Inc. increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 31.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,970 shares of the financial services provider’s stock after purchasing an additional 466 shares during the quarter. Brown Advisory Inc.’s holdings in Raymond James Financial were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Formidable Asset Management LLC boosted its stake in shares of Raymond James Financial by 0.9% in the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock valued at $1,227,000 after purchasing an additional 67 shares during the period. Farther Finance Advisors LLC boosted its stake in Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 82 shares during the last quarter. Brighton Jones LLC boosted its stake in Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 100 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Raymond James Financial by 0.8% during the 1st quarter. QRG Capital Management Inc. now owns 12,616 shares of the financial services provider’s stock valued at $1,752,000 after acquiring an additional 103 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Raymond James Financial by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,810 shares of the financial services provider’s stock valued at $2,196,000 after acquiring an additional 110 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research note on Monday. Morgan Stanley increased their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company increased their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, Bank of America downgraded shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective on the stock. in a research note on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $162.40.

Raymond James Financial Stock Down 0.1%

RJF stock opened at $156.15 on Thursday. 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, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm’s 50-day simple moving average is $150.99 and its 200 day simple moving average is $149.84. The stock has a market cap of $31.50 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the business earned $2.31 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. Raymond James Financial’s dividend payout ratio (DPR) is presently 19.25%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the firm’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 owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the firm’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 transaction, the insider directly owned 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.