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

Citigroup Inc. increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 375,569 shares of the financial services provider’s stock after purchasing an additional 7,558 shares during the quarter. Citigroup Inc.’s holdings in Raymond James Financial were worth $64,823,000 as of its most recent SEC filing.

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

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Trading Down 3.2%

Shares of RJF stock opened at $153.18 on Tuesday. 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 company has a market capitalization 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 50-day simple moving average of $165.33 and a two-hundred day simple moving average of $164.53.

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

Raymond James Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on RJF shares. Barclays began coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective on the stock. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Bank of America increased their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Finally, UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and an average target price 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.