Atlantic Union Bankshares Corp Acquires New Stake in Raymond James Financial, Inc. $RJF

Atlantic Union Bankshares Corp bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 8,613 shares of the financial services provider’s stock, valued at approximately $1,487,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after acquiring an additional 6,953 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Raymond James Financial by 14.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,601 shares of the financial services provider’s stock valued at $8,547,000 after acquiring an additional 6,379 shares in the last quarter. National Pension Service lifted its holdings in shares of Raymond James Financial by 1.6% in the third quarter. National Pension Service now owns 280,805 shares of the financial services provider’s stock valued at $48,467,000 after purchasing an additional 4,488 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in Raymond James Financial during the 3rd quarter valued at $622,000. Finally, DAVENPORT & Co LLC lifted its position in shares of Raymond James Financial by 42.0% during the second quarter. DAVENPORT & Co LLC now owns 31,960 shares of the financial services provider’s stock valued at $4,902,000 after purchasing an additional 9,455 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 2.2%

RJF stock opened at $169.82 on Thursday. The company has a market capitalization of $33.53 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company’s 50 day moving average price is $165.35 and its two-hundred day moving average price is $164.92.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.74%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. As a group, analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.54 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, Barclays started coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price for the company. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $182.17.

Raymond James Financial Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.