Sei Investments Co. Boosts Stake in Raymond James Financial, Inc. $RJF

Sei Investments Co. increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 932,602 shares of the financial services provider’s stock after purchasing an additional 25,018 shares during the quarter. Sei Investments Co.’s holdings in Raymond James Financial were worth $160,968,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of RJF. Thrivent Financial for Lutherans raised its stake in shares of Raymond James Financial by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock worth $10,390,000 after buying an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Raymond James Financial by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after acquiring an additional 6,953 shares during the period. Plato Investment Management Ltd increased its holdings in Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 4,342 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Raymond James Financial by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after acquiring an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Raymond James Financial during the 3rd quarter worth approximately $1,487,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RJF has been the topic of several analyst reports. Barclays began coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. 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 report on Wednesday, December 10th. Finally, UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Stock Down 2.5%

NYSE RJF opened at $144.64 on Friday. The stock’s 50 day moving average is $162.71 and its 200 day moving average is $163.52. 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 cap of $28.51 billion, a PE ratio of 14.15, a P/E/G ratio of 1.10 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $2.93 EPS. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insiders Place Their Bets

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

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.