Raymond James Financial, Inc. $RJF Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 54.6% in the 3rd quarter, Holdings Channel reports. The firm owned 25,772 shares of the financial services provider’s stock after buying an additional 9,100 shares during the quarter. NEOS Investment Management LLC’s holdings in Raymond James Financial were worth $4,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its holdings in shares of Raymond James Financial by 48.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 4,647 shares of the financial services provider’s stock valued at $802,000 after buying an additional 1,514 shares during the period. JPMorgan Chase & Co. grew its position in Raymond James Financial by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock valued at $1,009,342,000 after acquiring an additional 230,871 shares in the last quarter. ABN Amro Investment Solutions acquired a new stake in Raymond James Financial in the third quarter valued at approximately $208,000. Cookson Peirce & Co. Inc. raised its stake in shares of Raymond James Financial by 21.9% during the third quarter. Cookson Peirce & Co. Inc. now owns 6,174 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 1,110 shares during the period. Finally, Assetmark Inc. grew its holdings in Raymond James Financial by 17.7% during the 3rd quarter. Assetmark Inc. now owns 949 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Down 1.9%

NYSE RJF opened at $158.07 on Friday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company has a 50-day simple moving average of $165.64 and a 200-day simple moving average of $164.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market capitalization of $31.15 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.Raymond James Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is 21.14%.

Analyst Ratings Changes

Several research analysts recently commented on RJF shares. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. JPMorgan Chase & Co. increased their target price 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research report on Thursday, January 22nd. Citizens Jmp upped their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. Finally, Barclays initiated coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average target price of $182.17.

Insider Transactions at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the firm’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 value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Raymond James Financial 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.