Synovus Financial Corp raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,207 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Synovus Financial Corp’s holdings in Raymond James Financial were worth $497,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in RJF. YorkBridge Wealth Partners LLC increased its stake in Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 52 shares during the period. Burt Wealth Advisors acquired a new position in Raymond James Financial in the second quarter valued at $150,000. Global X Management Co. LLC increased its stake in Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 690 shares during the period. Triangle Securities Wealth Management purchased a new stake in shares of Raymond James Financial in the second quarter valued at about $206,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.03% of the company’s stock.
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Several brokerages have recently weighed in on RJF. BidaskClub downgraded shares of Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Nomura boosted their price objective on shares of Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Instinet restated a “buy” rating and set a $90.00 target price (up previously from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Wells Fargo & Company restated a “market perform” rating and set a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $89.33.
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the transaction, the insider now directly owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul C. Reilly sold 33,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the transaction, the chief executive officer now directly owns 128,980 shares in the company, valued at $10,727,266.60. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by corporate insiders.
Raymond James Financial, Inc. (NYSE:RJF) traded up 1.29% on Friday, reaching $79.31. 187,858 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $79.50 and a 200 day moving average of $77.71. The stock has a market capitalization of $11.40 billion, a PE ratio of 18.86 and a beta of 1.66. Raymond James Financial, Inc. has a 12 month low of $56.06 and a 12 month high of $85.97.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts predict that Raymond James Financial, Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.
Raymond James Financial Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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