iSAM Funds UK Ltd Buys New Position in Raymond James Financial, Inc. $RJF

iSAM Funds UK Ltd purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,018 shares of the financial services provider’s stock, valued at approximately $2,247,000.

Several other large investors have also added to or reduced their stakes in RJF. West Branch Capital LLC purchased a new stake in shares of Raymond James Financial in the 3rd quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in shares of Raymond James Financial during the third quarter valued at about $31,000. Quent Capital LLC purchased a new position in shares of Raymond James Financial during the third quarter valued at about $33,000. Anfield Capital Management LLC bought a new position in Raymond James Financial in the third quarter worth about $33,000. Finally, Clearstead Trust LLC raised its stake in Raymond James Financial by 174.0% in the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock worth $49,000 after buying an additional 181 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Barclays started coverage on Raymond James Financial in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price for the company. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Bank of America upped their price target 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. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $182.17.

Insiders Place Their Bets

In related news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $146.07 on Friday. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The firm’s 50-day moving average is $162.36 and its 200 day moving average is $163.38. The stock has a market cap of $28.79 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. Raymond James Financial’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. Sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

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.