Raymond James Financial Inc. (RJF) Shares Gap Up to $48.94
Raymond James Financial Inc. (NYSE:RJF) shares gapped up prior to trading on Friday . The stock had previously closed at $48.04, but opened at $48.94. Raymond James Financial shares last traded at $49.99, with a volume of 313,643 shares changing hands.
RJF has been the topic of several research analyst reports. Zacks Investment Research raised shares of Raymond James Financial from a “sell” rating to a “hold” rating in a report on Monday, March 28th. Goldman Sachs Group Inc. raised their target price on shares of Raymond James Financial from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, April 22nd. TheStreet raised shares of Raymond James Financial from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Thursday, May 12th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Raymond James Financial in a report on Wednesday, May 18th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $59.18.
The firm’s 50 day moving average price is $52.22 and its 200 day moving average price is $49.23. The company has a market cap of $7.08 billion and a PE ratio of 14.75.
Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 20th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.15. The company earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts expect that Raymond James Financial Inc. will post $3.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, June 29th.
In other Raymond James Financial news, insider Jeffrey A. Dowdle sold 4,900 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $54.18, for a total value of $265,482.00. Following the transaction, the insider now directly owns 34,749 shares in the company, valued at $1,882,700.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Dennis W. Zank sold 15,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $56.54, for a total transaction of $848,100.00. Following the completion of the transaction, the chief operating officer now owns 158,379 shares in the company, valued at $8,954,748.66. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. BOKF NA boosted its position in Raymond James Financial by 38.4% in the fourth quarter. BOKF NA now owns 18,470 shares of the company’s stock worth $1,071,000 after buying an additional 5,122 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in Raymond James Financial during the fourth quarter valued at about $1,582,000. GAM Holding AG raised its stake in Raymond James Financial by 2.0% in the fourth quarter. GAM Holding AG now owns 45,951 shares of the company’s stock valued at $2,664,000 after buying an additional 921 shares during the period. Boston Partners raised its stake in Raymond James Financial by 6.2% in the fourth quarter. Boston Partners now owns 6,960,579 shares of the company’s stock valued at $403,505,000 after buying an additional 407,803 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in Raymond James Financial by 0.6% in the fourth quarter. State of Wisconsin Investment Board now owns 353,836 shares of the company’s stock valued at $20,512,000 after buying an additional 2,066 shares during the period.
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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