PDT Partners LLC Acquires New Shares in Raymond James Financial, Inc. $RJF

PDT Partners LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,300 shares of the financial services provider’s stock, valued at approximately $1,262,000.

Several other large investors have also recently made changes to their positions in RJF. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the fourth quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial in the fourth quarter valued at $35,000. Jones Financial Companies Lllp acquired a new stake in Raymond James Financial during the second quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 228 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in Raymond James Financial during the second quarter worth approximately $40,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

RJF stock opened at $176.85 on Thursday. The firm has a 50 day moving average of $169.39 and a 200-day moving average of $157.93. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market cap of $34.02 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.07 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 EPS. As a group, equities analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RJF. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Barclays boosted their price target on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley upped their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average price target of $181.00.

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.