6,178 Shares in Raymond James Financial, Inc. $RJF Bought by Peak Planning Group LLC

Peak Planning Group LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,178 shares of the financial services provider’s stock, valued at approximately $992,000.

Several other large investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. raised its position in 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 valued at $625,000 after purchasing an additional 61 shares during the period. Meridian Wealth Advisors LLC raised its position in Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC raised its position in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Legacy Wealth Asset Management LLC raised its position in Raymond James Financial by 2.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 68 shares during the period. Finally, Bridgewater Advisors Inc. raised its position in Raymond James Financial by 1.3% in the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 68 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Up 2.5%

NYSE:RJF opened at $154.25 on Friday. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The stock has a 50-day simple moving average of $151.05 and a 200 day simple moving average of $156.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.82 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, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RJF shares. TD Cowen lowered their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Barclays restated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets raised their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.92.

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.