EFG International AG Takes Position in Raymond James Financial, Inc. $RJF

EFG International AG bought a new position in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,054 shares of the financial services provider’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reflection Asset Management acquired a new position in Raymond James Financial during the fourth quarter worth $28,000. Hilton Head Capital Partners LLC bought a new position in shares of Raymond James Financial during the fourth quarter valued at $35,000. Jones Financial Companies Lllp bought a new position in shares of Raymond James Financial during the second quarter valued at $36,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares in the last quarter. Finally, DV Equities LLC bought a new stake in shares of Raymond James Financial in the 4th quarter worth about $40,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $175.92 on Friday. The stock has a market capitalization of $33.84 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.08 and a beta of 0.92. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year 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 business has a 50-day moving average price of $169.79 and a two-hundred day moving average price of $157.95.

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

Raymond James Financial Dividend Announcement

The firm also recently disclosed 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. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s dividend payout ratio is currently 18.83%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RJF shares. Argus increased their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. 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 report on Thursday, July 23rd. Finally, Morgan Stanley lifted their target price on shares of 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. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.