Bank of New York Mellon Corp Has $192.99 Million Stock Position in Raymond James Financial, Inc. $RJF

Bank of New York Mellon Corp raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 22.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,201,739 shares of the financial services provider’s stock after buying an additional 216,907 shares during the period. Bank of New York Mellon Corp’s holdings in Raymond James Financial were worth $192,987,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Harfst & Associates Inc. boosted its position in Raymond James Financial by 3.5% in the fourth quarter. Harfst & Associates Inc. now owns 1,067,120 shares of the financial services provider’s stock valued at $171,369,000 after buying an additional 36,183 shares in the last quarter. Westpac Banking Corp boosted its position in Raymond James Financial by 7.7% in the fourth quarter. Westpac Banking Corp now owns 2,480 shares of the financial services provider’s stock valued at $398,000 after buying an additional 177 shares in the last quarter. Natixis Advisors LLC boosted its position in Raymond James Financial by 4.3% in the fourth quarter. Natixis Advisors LLC now owns 329,450 shares of the financial services provider’s stock valued at $52,906,000 after buying an additional 13,591 shares in the last quarter. Old Peak Finance LLC acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $311,000. Finally, MUFG Securities EMEA plc boosted its position in Raymond James Financial by 112.8% in the fourth quarter. MUFG Securities EMEA plc now owns 7,228 shares of the financial services provider’s stock valued at $1,161,000 after buying an additional 3,831 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $151.48 on Friday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.16 and a beta of 0.94. The business has a 50-day simple moving average of $150.20 and a 200 day simple moving average of $156.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF) last posted its earnings results 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 company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. On average, research 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 announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RJF shares. Morgan Stanley raised their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group dropped their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Barclays reaffirmed an “overweight” rating and set a $182.00 price target (up from $174.00) 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.92.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by insiders.

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.