Raymond James Financial, Inc. (RJF) Shares Bought by First Trust Advisors LP
First Trust Advisors LP increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 49.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,189 shares of the financial services provider’s stock after purchasing an additional 104,332 shares during the period. First Trust Advisors LP owned 0.22% of Raymond James Financial worth $26,496,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of RJF. YorkBridge Wealth Partners LLC raised its position in shares of Raymond James Financial by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 66 shares during the last quarter. Burt Wealth Advisors acquired a new position in shares of Raymond James Financial during the 2nd quarter worth approximately $150,000. Triangle Securities Wealth Management acquired a new position in shares of Raymond James Financial during the 2nd quarter worth approximately $206,000. Pacer Advisors Inc. raised its position in shares of Raymond James Financial by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 206 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Raymond James Financial during the 2nd quarter worth approximately $225,000. Hedge funds and other institutional investors own 69.59% of the company’s stock.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.97%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $1.28 EPS. The company’s revenue was up 15.8% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, September 29th. Raymond James Financial’s dividend payout ratio is 20.32%.
Several brokerages recently issued reports on RJF. Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Buckingham Research lifted their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. BidaskClub downgraded Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Instinet restated a “buy” rating and set a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Finally, Nomura lifted their price objective on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $89.67.
In related news, CEO Paul C. Reilly sold 33,000 shares of the firm’s stock in a transaction that occurred 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 owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.18% of the company’s stock.
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Raymond James Financial Company 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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