Raymond James Financial, Inc. $RJF Stock Holdings Increased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 11.7% during the fourth quarter, Holdings Channel reports. The firm owned 677,581 shares of the financial services provider’s stock after purchasing an additional 70,849 shares during the period. Franklin Resources Inc.’s holdings in Raymond James Financial were worth $108,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $32,000. Anfield Capital Management LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter worth approximately $33,000. Harbor Investment Advisory LLC raised its holdings in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $35,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of 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 in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $150.86 on Thursday. The firm’s 50 day simple moving average is $150.72 and its 200-day simple moving average is $156.56. The company has a market cap of $29.40 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. 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, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. As a group, equities research analysts predict that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 (DPR) is currently 20.42%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RJF shares. TD Cowen dropped their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 28th. UBS Group reissued a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group dropped their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Morgan Stanley lifted their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $172.92.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.