New Age Alpha Advisors LLC Buys 24,646 Shares of Raymond James Financial, Inc. $RJF

New Age Alpha Advisors LLC increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 81.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,812 shares of the financial services provider’s stock after buying an additional 24,646 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Raymond James Financial were worth $8,802,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in 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 purchasing an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Raymond James Financial by 28.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after purchasing an additional 6,953 shares during the period. Plato Investment Management Ltd increased its stake in Raymond James Financial by 2,000.9% in the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 4,342 shares during the period. Allianz Asset Management GmbH increased its stake in Raymond James Financial by 24.6% in the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after purchasing an additional 11,680 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Raymond James Financial in the third quarter worth $1,487,000. 83.83% of the stock is currently owned by institutional investors.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $151.48 on Monday. The firm has a market cap of $29.52 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 0.99. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The stock’s fifty day moving average price is $149.56 and its 200-day moving average price is $157.58.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 earnings per share. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RJF. 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 note on Thursday, April 23rd. Jefferies Financial Group reduced their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. BMO Capital Markets increased their target price on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Barclays reiterated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $173.25.

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.