Jupiter Asset Management Ltd. Has $2 Million Stock Holdings in Raymond James Financial, Inc. $RJF

Jupiter Asset Management Ltd. lifted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 728.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,458 shares of the financial services provider’s stock after acquiring an additional 10,955 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Raymond James Financial were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Great Valley Advisor Group Inc. increased its stake in shares of Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased 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 worth $1,763,000 after buying an additional 62 shares during the last quarter. Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after buying an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in Raymond James Financial by 2.5% during 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 during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in Raymond James Financial by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after buying an additional 68 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.9%

RJF stock opened at $143.30 on Friday. 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, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The company has a 50-day moving average of $149.83 and a two-hundred day moving average of $157.13. The stock has a market capitalization of $27.93 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 20.42%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the company’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 in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RJF. Barclays reissued an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets increased their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Morgan Stanley increased their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, UBS Group reissued a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial 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.