Eurizon Capital SGR S.p.A. Makes New Investment in Raymond James Financial, Inc. $RJF

Eurizon Capital SGR S.p.A. acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,070 shares of the financial services provider’s stock, valued at approximately $4,833,000.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial during the fourth quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in shares of Raymond James Financial during the third quarter worth approximately $33,000. Harbor Investment Advisory LLC increased its holdings in shares of Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Raymond James Financial during the fourth quarter worth approximately $44,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. TD Cowen lowered 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Jefferies Financial Group lowered their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Four research 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.92.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were 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 approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $146.10 on Tuesday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $149.89 and its two-hundred day moving average price is $156.97. The stock has a market cap of $28.47 billion, a PE ratio of 13.81, a P/E/G ratio of 1.10 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) 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 firm 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 business posted $2.42 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that Raymond James Financial, Inc. will post 11.84 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

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.