Citigroup Inc. Buys 7,558 Shares of Raymond James Financial, Inc. $RJF

Citigroup Inc. grew its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 375,569 shares of the financial services provider’s stock after purchasing an additional 7,558 shares during the period. Citigroup Inc. owned about 0.19% of Raymond James Financial worth $64,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. West Branch Capital LLC acquired a new stake in Raymond James Financial in the third quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial in the 3rd quarter valued at $31,000. Quent Capital LLC bought a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Root Financial Partners LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at $50,000. Finally, South Dakota Investment Council grew its position in Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 300 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 3.2%

Raymond James Financial stock opened at $153.18 on Tuesday. The firm has a market cap of $30.19 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.17 and a beta of 1.00. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a 50 day moving average price of $165.33 and a two-hundred day moving average price of $164.53.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate 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 17.65%. Raymond James Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 earnings per share. Equities analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Barclays assumed 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 on the stock. Bank of America upped their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Finally, UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $182.17.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The shares were 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 in the company, valued at $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 available through this link. 0.58% of the stock is currently owned by company insiders.

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.