MGO One Seven LLC Purchases 3,602 Shares of Raymond James Financial, Inc. $RJF

MGO One Seven LLC grew its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 20.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,235 shares of the financial services provider’s stock after acquiring an additional 3,602 shares during the period. MGO One Seven LLC’s holdings in Raymond James Financial were worth $3,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. West Branch Capital LLC bought a new stake in shares of Raymond James Financial in the third quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial in the 3rd quarter worth approximately $31,000. Princeton Global Asset Management LLC raised its holdings in shares of Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 100 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 108 shares in the last quarter. Finally, South Dakota Investment Council boosted its position in shares of Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $167.26 on Wednesday. The firm has a 50-day moving average price of $161.75 and a 200-day moving average price of $163.68. The firm has a market capitalization of $33.03 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.99. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.99%.

Insider Activity

In related news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RJF. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Bank of America increased their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Finally, BMO Capital Markets lifted their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $180.73.

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.