Aster Capital Management DIFC Ltd Invests $2.10 Million in Raymond James Financial, Inc. $RJF

Aster Capital Management DIFC Ltd acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,149 shares of the financial services provider’s stock, valued at approximately $2,097,000. Raymond James Financial makes up 1.1% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of RJF. Thrivent Financial for Lutherans increased its stake in shares of Raymond James Financial by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after buying an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Raymond James Financial by 28.6% during the 3rd 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 during the last quarter. Plato Investment Management Ltd increased its position in Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Raymond James Financial by 24.6% during the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after acquiring an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Raymond James Financial during the third quarter worth $1,487,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. UBS Group set a $176.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Bank of America increased their price target on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Barclays began coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average target price of $182.17.

Raymond James Financial Price Performance

RJF stock opened at $159.68 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company’s 50-day moving average is $165.14 and its 200-day moving average is $164.39. The stock has a market capitalization of $31.47 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly 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. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business earned $2.93 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.54 dividend. 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 (DPR) is currently 21.14%.

About Raymond James Financial

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.