Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $11.21 Million Position in Raymond James Financial, Inc. $RJF

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 69,794 shares of the financial services provider’s stock, valued at approximately $11,208,000.

Several other institutional investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its holdings in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC lifted its holdings in shares of Raymond James Financial by 0.6% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after buying an additional 62 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 68 shares during the last quarter. Finally, Bridgewater Advisors Inc. lifted its holdings in Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $151.16 on Wednesday. The business’s fifty day moving average price is $149.45 and its two-hundred day moving average price is $157.73. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The stock has a market capitalization of $29.46 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. As a group, analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RJF. UBS Group restated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. TD Cowen restated a “hold” rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Jefferies Financial Group reduced their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Morgan Stanley boosted their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $173.25.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Raymond James Financial Company 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.