Intech Investment Management LLC Acquires 5,794 Shares of Raymond James Financial, Inc. $RJF

Intech Investment Management LLC raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 64.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,824 shares of the financial services provider’s stock after buying an additional 5,794 shares during the period. Intech Investment Management LLC’s holdings in Raymond James Financial were worth $2,559,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Great Valley Advisor Group Inc. lifted its stake in shares of Raymond James Financial by 1.5% in 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 last quarter. Waterloo Capital L.P. increased its stake in Raymond James Financial by 2.0% in the 2nd quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 64 shares during the period. Wedmont Private Capital lifted its position in Raymond James Financial by 0.6% in 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 last quarter. Tectonic Advisors LLC boosted its stake in shares of 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, Level Four Advisory Services LLC grew its holdings in shares of Raymond James Financial by 2.4% in the second quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

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

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Bank of America raised their target price 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. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Finally, Barclays began coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective for the company. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $153.77 on Wednesday. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The stock’s 50 day simple moving average is $164.46 and its two-hundred day simple moving average is $164.14. 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 stock has a market cap of $30.31 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.14 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business posted $2.93 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s payout ratio is 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.