Susquehanna Fundamental Investments LLC Purchases 181,386 Shares of Raymond James Financial, Inc. $RJF

Susquehanna Fundamental Investments LLC grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 278.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,572 shares of the financial services provider’s stock after acquiring an additional 181,386 shares during the period. Susquehanna Fundamental Investments LLC owned 0.13% of Raymond James Financial worth $37,486,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Raymond James Financial during the 2nd quarter worth approximately $2,180,699,000. Primecap Management Co. CA bought a new stake in Raymond James Financial in the second quarter valued at $1,405,145,000. First Trust Advisors LP raised its holdings in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Raymond James Financial by 9.9% during the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after purchasing an additional 220,227 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Up 0.1%

RJF stock opened at $179.50 on Monday. The firm has a market capitalization of $34.53 billion, a PE ratio of 15.65, a P/E/G ratio of 1.10 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The stock’s 50 day moving average is $170.25 and its 200-day moving average is $157.99.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. Sell-side analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Analyst Ratings Changes

RJF has been the subject of a number of research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Citizens Jmp increased their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Argus upped their target price on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.00.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the company’s 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 sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were 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 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.58% of the company’s stock.

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.