Jefferies Financial Group Inc. Takes Position in Raymond James Financial, Inc. $RJF

Jefferies Financial Group Inc. bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 17,095 shares of the financial services provider’s stock, valued at approximately $2,599,000.

Several other large investors have also added to or reduced their stakes in the business. Kingsview Wealth Management LLC boosted its holdings in Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares during the last quarter. Algebris UK Ltd. purchased a new position in shares of Raymond James Financial in the fourth quarter valued at $10,179,000. Fisher Asset Management LLC grew its stake in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after acquiring an additional 25,410 shares in the last quarter. Swedbank AB grew its position in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after buying an additional 9,838 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its stake in Raymond James Financial by 40.8% in the 4th quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider’s stock worth $3,971,000 after buying an additional 7,164 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 1.9%

NYSE RJF opened at $179.50 on Friday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The stock has a market capitalization of $34.53 billion, a PE ratio of 15.65, a PEG ratio of 1.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The business’s 50-day moving average is $170.25 and its 200 day moving average is $158.11.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. Sell-side analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RJF. Barclays increased their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group set a $184.00 price target on Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Citizens Jmp raised their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average target price of $181.00.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.58% of the company’s stock.

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.