Klein Pavlis & Peasley Financial Inc. Takes $1.10 Million Position in Raymond James Financial, Inc. $RJF

Klein Pavlis & Peasley Financial Inc. purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, HoldingsChannel reports. The firm purchased 6,832 shares of the financial services provider’s stock, valued at approximately $1,097,000.

Several other institutional investors also recently added to or reduced their stakes in RJF. Thrivent Financial for Lutherans boosted its position in Raymond James Financial by 30.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after buying an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after acquiring an additional 6,953 shares during the period. Plato Investment Management Ltd increased its position in shares of Raymond James Financial by 2,000.9% during the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Raymond James Financial by 24.6% during the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after acquiring an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Raymond James Financial during the third quarter valued at approximately $1,487,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Bank of America increased their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Trading Down 2.0%

NYSE:RJF opened at $141.33 on Friday. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.05 and a beta of 1.00. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $157.33 and a 200 day moving average of $161.68.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Investors of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s payout ratio 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.