Allspring Global Investments Holdings LLC Increases Stock Holdings in Raymond James Financial, Inc. $RJF

Allspring Global Investments Holdings LLC grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,603 shares of the financial services provider’s stock after purchasing an additional 11,043 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Raymond James Financial were worth $15,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Great Valley Advisor Group Inc. grew its position in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 61 shares during the period. Meridian Wealth Advisors LLC lifted its position in Raymond James Financial by 0.6% during the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 62 shares in the last quarter. Wedmont Private Capital grew its holdings in Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after purchasing an additional 64 shares during the period. Tectonic Advisors LLC grew its holdings in Raymond James Financial by 2.0% during the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 65 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in Raymond James Financial by 2.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after buying an additional 68 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Bank of America increased their price target 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. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Barclays assumed coverage on 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 research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $183.00.

Raymond James Financial Trading Down 0.0%

Shares of Raymond James Financial stock opened at $142.18 on Friday. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $154.58 and a 200-day moving average price of $160.75. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.07 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS 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 company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is 21.14%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

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.