Peak Planning Group LLC Makes New Investment in Raymond James Financial, Inc. $RJF

Peak Planning Group LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, Holdings Channel reports. The institutional investor bought 6,178 shares of the financial services provider’s stock, valued at approximately $992,000.

A number of other large investors have also recently bought and sold shares of RJF. Norges Bank bought a new position in Raymond James Financial in the fourth quarter worth about $324,263,000. Munich Reinsurance Co Stock Corp in Munich bought a new position in Raymond James Financial in the third quarter worth about $69,861,000. PFA Pension Forsikringsaktieselskab bought a new position in Raymond James Financial in the fourth quarter worth about $64,640,000. Balyasny Asset Management L.P. lifted its holdings in Raymond James Financial by 7,823.8% in the third quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider’s stock worth $49,809,000 after acquiring an additional 284,941 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Raymond James Financial by 44.9% in the third quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider’s stock worth $135,171,000 after acquiring an additional 242,552 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RJF. TD Cowen cut 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 reaffirmed a “neutral” rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets lifted their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Morgan Stanley lifted their price target on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a 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’s stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $172.92.

Raymond James Financial Stock Performance

RJF opened at $154.25 on Friday. The business’s 50 day moving average is $151.05 and its 200-day moving average is $156.53. The stock has a market cap of $30.06 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. 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 twelve month low of $138.82 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict 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 announced 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 annualized dividend and a yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

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.