Entropy Technologies LP Makes New $2.25 Million Investment in Raymond James Financial, Inc. $RJF

Entropy Technologies LP purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,013 shares of the financial services provider’s stock, valued at approximately $2,250,000.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at $32,000. Anfield Capital Management LLC purchased a new position in Raymond James Financial in the 3rd quarter worth $33,000. Harbor Investment Advisory LLC lifted its position in Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 172 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in Raymond James Financial during the 4th quarter worth about $35,000. Finally, Salomon & Ludwin LLC grew its stake in Raymond James Financial by 34.8% during the 4th 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 last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction 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 sale, the insider 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.1%

Raymond James Financial stock opened at $154.60 on Tuesday. The business’s 50-day moving average price is $151.30 and its 200 day moving average price is $156.55. 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 firm has a market cap of $30.13 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. 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 quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the company posted $2.42 earnings per share. Raymond James Financial’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s dividend payout ratio is 20.42%.

Wall Street Analyst Weigh In

RJF has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reiterated 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. Morgan Stanley raised their price target 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. BMO Capital Markets lifted their price objective on shares of 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. Finally, Barclays reaffirmed an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial presently has an average rating of “Hold” and an average target price of $172.92.

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.