Victory Capital Management Inc. Raises Position in Raymond James Financial, Inc. $RJF

Victory Capital Management Inc. lifted its position in Raymond James Financial, Inc. (NYSE:RJF) by 0.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,785,857 shares of the financial services provider’s stock after acquiring an additional 21,856 shares during the period. Victory Capital Management Inc.’s holdings in Raymond James Financial were worth $447,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Harbor Investment Advisory LLC increased its position in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $35,000. Finally, Salomon & Ludwin LLC increased its position in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated 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 directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

Raymond James Financial Price Performance

Shares of RJF opened at $154.25 on Friday. The business’s 50-day moving average is $151.05 and its two-hundred day moving average is $156.53. The company has a market capitalization of $30.06 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.15 and a beta of 0.94. 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 fifty-two week low of $138.82 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 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 period last year, the firm earned $2.42 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts predict that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on RJF shares. TD Cowen cut their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Barclays reaffirmed an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. 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 research report on Thursday, April 23rd. Jefferies Financial Group cut their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.92.

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.