Pinebridge Investments L.P. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,612 shares of the financial services provider’s stock, valued at approximately $389,000.

A number of other large investors have also recently bought and sold shares of RJF. YorkBridge Wealth Partners LLC raised its holdings in 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 valued at $115,000 after buying an additional 66 shares during the last quarter. Burt Wealth Advisors bought a new position in Raymond James Financial in the 2nd quarter worth $150,000. Noesis Capital Mangement Corp bought a new position in Raymond James Financial in the 3rd quarter worth $210,000. Pacer Advisors Inc. raised its holdings in Raymond James Financial by 8.2% in 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 in the last quarter. Finally, FNY Partners Fund LP raised its holdings in Raymond James Financial by 3,103.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 3,103 shares in the last quarter. Institutional investors own 69.86% of the company’s stock.

Several brokerages have commented on RJF. Credit Suisse Group began coverage on shares of Raymond James Financial in a report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price objective for the company. Buckingham Research upped their price objective on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a report on Tuesday, October 3rd. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. Finally, Zacks Investment Research upgraded shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and a consensus price target of $88.57.

Shares of Raymond James Financial, Inc. (NYSE:RJF) traded down $0.45 during midday trading on Tuesday, reaching $89.04. 528,200 shares of the company’s stock traded hands, compared to its average volume of 779,631. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. Raymond James Financial, Inc. has a 1-year low of $68.97 and a 1-year high of $91.29. The company has a market cap of $12,922.40, a price-to-earnings ratio of 17.62, a PEG ratio of 0.89 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.15. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. research analysts expect that Raymond James Financial, Inc. will post 5.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Raymond James Financial’s dividend payout ratio is currently 20.32%.

In other news, Chairman Thomas A. James sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total value of $17,196,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey A. Dowdle sold 8,021 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $88.67, for a total transaction of $711,222.07. The disclosure for this sale can be found here. Insiders sold a total of 288,833 shares of company stock worth $24,856,957 over the last ninety days. 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.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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