17,000 Shares in Raymond James Financial, Inc. $RJF Acquired by Maltese Capital Management LLC

Maltese Capital Management LLC acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, HoldingsChannel reports. The fund acquired 17,000 shares of the financial services provider’s stock, valued at approximately $2,730,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Raymond James Financial during the 4th quarter valued at $324,263,000. First Trust Advisors LP raised its stake in Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after buying an additional 474,477 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Raymond James Financial in the third quarter worth about $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Raymond James Financial in the 4th quarter worth $64,640,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of 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 buying an additional 284,941 shares during the period. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RJF has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. 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. UBS Group restated a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Barclays restated an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, TD Cowen lowered their price target 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. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $172.92.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $154.60 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The company has a market cap of $30.13 billion, a PE ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.94. The business has a 50-day simple moving average of $151.30 and a 200-day simple moving average of $156.55.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm posted $2.42 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Raymond James Financial 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.