Kingsview Wealth Management LLC Raises Stake in Raymond James Financial, Inc. $RJF

Kingsview Wealth Management LLC boosted its position in Raymond James Financial, Inc. (NYSE:RJF) by 586.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,374 shares of the financial services provider’s stock after buying an additional 17,407 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Raymond James Financial were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Anfield Capital Management LLC purchased a new stake in Raymond James Financial in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $32,000. Harbor Investment Advisory LLC boosted its stake in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reissued a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group dropped their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and an average price target of $172.92.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $143.30 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $27.93 billion, a PE ratio of 13.54, a P/E/G ratio of 1.10 and a beta of 0.99. The business has a 50 day moving average of $149.83 and a 200 day moving average of $157.13. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial’s dividend payout ratio is 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The shares were 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 of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

About Raymond James Financial

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.