Pinebridge Investments L.P. Purchases Shares of 4,612 Raymond James Financial, Inc. (RJF)
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.
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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