Rakuten Investment Management Inc. Acquires Shares of 69,194 Raymond James Financial, Inc. $RJF

Rakuten Investment Management Inc. acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 69,194 shares of the financial services provider’s stock, valued at approximately $11,943,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RJF. Vest Financial LLC increased its stake in shares of Raymond James Financial by 2.0% in the third quarter. Vest Financial LLC now owns 298,088 shares of the financial services provider’s stock worth $51,450,000 after buying an additional 5,822 shares during the last quarter. Inscription Capital LLC grew its holdings in Raymond James Financial by 21.4% during the 3rd quarter. Inscription Capital LLC now owns 1,733 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 305 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter worth about $50,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Raymond James Financial in the 3rd quarter valued at about $215,000. Finally, Allstate Corp bought a new position in shares of Raymond James Financial during the third quarter worth about $1,141,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

RJF stock opened at $170.03 on Thursday. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The stock has a market capitalization of $33.57 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock’s fifty day moving average is $162.78 and its two-hundred day moving average is $164.22.

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

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.54 dividend. The ex-dividend date was Friday, January 2nd. This is an increase 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 20.99%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the business’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 transaction, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. BMO Capital Markets upped their price target on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Bank of America boosted their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and an average target price of $181.36.

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.