Aster Capital Management DIFC Ltd Makes New Investment in Raymond James Financial, Inc. $RJF

Aster Capital Management DIFC Ltd acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,149 shares of the financial services provider’s stock, valued at approximately $2,097,000. Raymond James Financial comprises approximately 1.1% of Aster Capital Management DIFC Ltd’s investment portfolio, making the stock its 12th largest position.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Raymond James Financial in the 2nd quarter valued at about $354,446,000. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James Financial by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock worth $861,479,000 after acquiring an additional 1,651,380 shares during the period. First Trust Advisors LP boosted its holdings in shares of Raymond James Financial by 39.9% during the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after acquiring an additional 709,315 shares during the period. American Century Companies Inc. grew its position in shares of Raymond James Financial by 179.8% in the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock valued at $105,581,000 after purchasing an additional 442,340 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Raymond James Financial by 824.7% during the second quarter. Marshall Wace LLP now owns 438,213 shares of the financial services provider’s stock worth $67,209,000 after purchasing an additional 390,821 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction dated 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 transaction, the insider owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.8%

Shares of RJF opened at $159.68 on Friday. The firm has a 50 day simple moving average of $165.14 and a two-hundred day simple moving average of $164.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company has a market cap of $31.47 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.17 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company posted $2.93 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on RJF. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Bank of America boosted their target price 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. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Barclays began coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective for the company. Finally, TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Company 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.