Daiwa Securities Group Inc. Acquires 6,217 Shares of Raymond James Financial, Inc. $RJF

Daiwa Securities Group Inc. lifted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,648 shares of the financial services provider’s stock after purchasing an additional 6,217 shares during the period. Daiwa Securities Group Inc.’s holdings in Raymond James Financial were worth $5,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Raymond James Financial by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock valued at $1,009,342,000 after purchasing an additional 230,871 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Raymond James Financial by 4.5% during the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock valued at $448,332,000 after purchasing an additional 111,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Raymond James Financial by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock valued at $406,941,000 after purchasing an additional 227,337 shares in the last quarter. Norges Bank bought a new stake in shares of Raymond James Financial during the 4th quarter valued at about $324,263,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Raymond James Financial by 22.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock valued at $192,987,000 after purchasing an additional 216,907 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $151.48 on Monday. The company has a market cap of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The business has a 50 day moving average price of $150.20 and a 200-day moving average price of $156.65. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. Equities analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given 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 of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction 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 sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RJF shares. TD Cowen cut their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. BMO Capital Markets upped their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.92.

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.