Intech Investment Management LLC Grows Stock Holdings in Raymond James Financial, Inc. $RJF

Intech Investment Management LLC increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 64.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,824 shares of the financial services provider’s stock after buying an additional 5,794 shares during the quarter. Intech Investment Management LLC’s holdings in Raymond James Financial were worth $2,559,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. MAI Capital Management boosted its holdings in Raymond James Financial by 140.8% in the third quarter. MAI Capital Management now owns 1,346 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 787 shares in the last quarter. GGM Financials LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter worth about $107,000. Mufg Securities Americas Inc. boosted its stake in Raymond James Financial by 18.9% in the 3rd quarter. Mufg Securities Americas Inc. now owns 4,786 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 762 shares in the last quarter. Compound Planning Inc. grew its position in Raymond James Financial by 15.6% during the 3rd quarter. Compound Planning Inc. now owns 1,639 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 221 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Raymond James Financial by 10.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,303 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Down 0.4%

Shares of RJF stock opened at $153.77 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The stock has a market capitalization of $30.31 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.14 and a beta of 1.00. The firm’s 50 day moving average is $164.46 and its 200 day moving average is $164.14.

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

Raymond James Financial Dividend Announcement

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. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Analysts Set New Price Targets

RJF has been the topic of several analyst reports. Bank of America upped their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Barclays began coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price for the company. Finally, Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.17.

Insider Activity

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate 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.